457 Plan Docs Checklist
The fastest way to turn "Coming Soon" into an actual plan-specific playbook.
Education only. Verify everything with HR or your plan provider.
Where to look first
- Plan provider portal (Voya / MissionSquare / Empower / etc.) → "Plan Documents" or "Disclosures"
- HR / benefits intranet
- Payroll / benefits office — ask for the specific doc names below
- Union or association — if they manage benefits, they may have copies
Search terms: SPD, 404a-5, fee disclosure, stable value, self-directed brokerage, BrokerageLink, distribution form
The checklist
1. Summary Plan Description (SPD) / Plan Highlights
Why it matters: The plan's rulebook — governmental vs non-governmental, Roth, catch-ups, distributions.
What to extract:
- Governmental vs non-governmental 457(b)
- Roth option (yes/no)
- Special 457 catch-up rules (if offered) + constraints — verify current IRS limits
- In-service withdrawal rules (if any)
- Loan availability (if any)
- Distribution rules at separation (timing, options)
- Rollover options allowed
- Beneficiary / death benefit basics
→ OKC playbook: Distribution rules, Contribution + workflow
2. 404a-5 Fee Disclosure (or equivalent plan fee disclosure)
Why it matters: Shows what you're actually paying — admin fees, fund expense ratios.
What to extract:
- Administrative fees (annual / quarterly / per participant)
- Fund expense ratios (core menu)
- Any additional fees for brokerage / self-directed window
→ OKC playbook: Voya Menu Reality (fees), Common mistakes
3. Core Fund Lineup (fact sheets or lineup PDF)
Why it matters: The actual menu — what you can buy in the core plan.
What to extract:
- Fund names + tickers (if applicable) + expense ratios
- Stable value fund name + restrictions doc reference
→ OKC playbook: Voya Menu Reality (fund list placeholders)
4. Stable Value Fund rules / restrictions (often separate PDF)
Why it matters: Stable value has gotchas — equity wash, transfer limits.
What to extract:
- Equity wash / competing fund restrictions
- Transfer limits or holding periods
- Any special rules (market value adjustment, etc.)
→ OKC playbook: Voya Menu Reality, Common mistakes
5. Self-directed brokerage / BrokerageLink rules (if offered)
Why it matters: Sweep mechanics, minimums, timing — the stuff that breaks your workflow if you get it wrong.
What to extract:
- Eligibility / enrollment steps
- Minimum balance required
- Contribution / sweep mechanics and timing
- Restrictions (what can / can't be bought)
- Fees for brokerage window
→ OKC playbook: Schwab Sweep Reality section placeholders
6. Distribution / withdrawal forms + rules doc (separation packet)
Why it matters: How to actually get your money out when you separate.
What to extract:
- How to request distributions
- Required minimum distribution policy (RMDs)
- Partial vs full distributions
- Rollover process / check payable rules
→ OKC playbook: Distribution rules & pitfalls
7. Beneficiary / QDRO / divorce procedures (if relevant)
Why it matters: Admin gotchas — where beneficiary is set, QDRO process.
What to extract:
- Where beneficiary is set / changed
- QDRO contact / process
→ OKC playbook: Common mistakes or Admin gotchas
What to send / what to paste
The exact stuff we need so we can populate the OKC playbook quickly:
- Provider name + portal link
- Core fund lineup PDF
- Fee disclosure PDF
- Stable value restrictions PDF
- Brokerage window guide PDF (if any)
- Distribution rules packet
Next step
Once you have the docs, we'll fill in the OKC-specific blanks.