Our mission is to provide cost-effective employee benefit solutions within the frame work of corporate objectives. We strive to be client focused, to meet individual needs, and to be sensitive to changes which affect our client base.

We are committed to providing all services with the greatest levels of skill, utilizing the latest technologies and resources available.

Schloss & Co, LLC is a prominent, thoroughly experienced professional family. Our employee benefits specialists include enrolled actuaries, pension administrators, ERISA attorneys and enrolled agents.

Many are well known in the industry, making
us a team that functions like a corporate think tank.

Our professionals are available for consultation whenever you need them.

About Us

Every Schloss & Co, LLC account is assigned
to a team brought together for its expertise in your  particular field of interest. Each account team is headed by a senior level benefits professional with 15-25 years of experience.

These senior executives are directly accessible
to clients. Day to day, your Schloss & Co, LLC account is monitored and maintained by specialists skilled in the business. Every professional is equipped to deal with complex issues such as:

  -How to maximize benefits to increase 
   productivity and reward key employees.

  -How to weigh various plan design options.

  -How to evaluate the effects of  regulations,
   new laws, taxes and corporate restructuring.

  -How to plan for the future in a changing
   economy .

Finally, our client focused support teams ensure that follow-through is performed
in a timely, accurate fashion.                     
Latest News

457(b) Plan - Tax Exempt and Governmental Employees can now double their retirement Plan Deferrals.

A 457(b) plan is a tax-deferred compensation plan that is similar to other retirement plans such as the 403(b) and 401(k). The name refers to the relevant section 457 in the Internal Revenue Code that governs the plan. Two main types of 457(b) plans exist: governmental and tax-exempt 457(b) plans.  (There is also a 457(f) plan that allows larger contributions than a 457(b) plan but it is subject
to the more complicated Section 409A regulations covering non-qualified plans).

457(b) plan deferrals no longer have to be
coordinated with 401(k) or 403(b) deferrals. This means an employee can contribute the maximum
to a 457(b) plan, regardless of contributions made
to another type of workplace savings plan. 

For example, in 2009, if you are under age 50, you could potentially contribute $16,500 to a 457(b) plan, and another $16,500 to a 401(k) or 403(b) plan. If
you are over age 50 you could qualify for additional Catch-up contributions depending on whether you
are working for a tax-exempt organization or governmental.

Tax-exempt organizations will often set up a 457(b) plan for one or a few of their top executives.  This allows the executives to defer an additional $16,500 above their 403(b) or 401(k) deferrals.  (Instead of the executive deferring, the employer may make up to a $16,500 contribution for the executive or the $16,500 could consist of a combination of Employee and Employer contributions).  A tax-exempt 457(b) plan must be set up as a “top hat” plan.  This means only a select group of executives may be allowed to participate.

Tax-exempt 457(b) plans are not subject to
coverage testing.  This allows the employer to
select participants by name.  In addition, their
plan assets remain the property of the employer subject to the claims of creditors.

If you would like more information on 457(b) plans, please contact Lisa Jones Esq., Director of Compliance at 516-414-8338 or e-mail at

Schloss & Co, LLC
1400 Old Country Road
Suite 310
Westbury, NY 11590-5125
This web site was last updated: July 18, 2011
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  • Congress passes Pension Relief, including
    moratorium on Required Minimum
    Distributions for 2009 from IRAs/
    Individual Account Plans. The President 
    expected to sign in to law.

  • IRS extends deadline to December 31,
    2009 for Section 403(b) written plan   
    document compliance.

  • More details to follow soon.
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