457 plan

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Motley Fool  May 26  Comment 
Ready to take your savings to the next level? Here's how to get it done.
Motley Fool  May 18  Comment 
Here's a good way to estimate how much you'll have in your 457 plan when you retire.
Motley Fool  Dec 19  Comment 
Find out more about this little-known retirement plan and whether you can use it to reap tax benefits.
Motley Fool  Sep 23  Comment 
If one of your workplace’s benefits is a 457 plan, making significant contributions to it is probably a very good idea.
Investing School  May 16  Comment 
A 457 plan is a "non-qualified, deferred compensation plan" that allows employees to defer up to 100% of their income up to the permitted dollar amount per year. This means that any compensation placed into such a retirement account grows on a...




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The 457 plan is a type of non-qualified tax advantaged deferred-compensation retirement plan that is available for governmental and certain non-governmental employers in the United States. The employer provides the plan and the employee defers compensation into it on a pre-tax basis. For the most part the plan operates similarly to a 401(k) or 403(b) plan most people are familiar with in the US. The key difference is unlike a 401(k) plan, there is no 10% penalty for withdrawal before the age of 59½ (although the withdrawal is subject to ordinary income taxation). Another difference is that 457 plan participant cannot make designated Roth contributions as participants in appropriately amended 401(k) and 403(b) plans can. Also 457 plans (both governmental and non governmental) can allow independent contractors to participate in the plan where 401(k) and 403(b) plans cannot.

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