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Frequently Asked Questions

What costs are involved in a deferred compensation 457 plan?

Since the inception of the North Shore Bank Deferred compensation program, the bank has assessed no service charges or administrative fees for funds allocated to a North Shore Bank Certificate of Deposit. A small annual asset fee is incurred when funds are allocated to the mutual fund options.

Note:

  • Our representatives may not give legal or tax advice. Please consult your attorney or tax advisor for answers to your specific tax questions.
  • Your North Shore Bank 457(b) Plan can be funded by both FDIC insured North Shore Bank Certificates of Deposit (CDs) and/or non-Bank investments provided through TransAmerica Funds.
  • Investments held in North Shore Bank CDs are FDIC insured.
  • However, investments other than North Shore Bank CDs are NOT a deposit or other obligation of the Bank or its affiliates; NOT insured by the FDIC or any other agency of the United States; are subject to investment risk, including possible loss of value.
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Frequently Asked Questions