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Governmental 457 plans may be rolled into other types of retirement plans with few restrictions beyond the normal ones for any other type of employer-provided plan, which includes separation of service or disability. This includes other gastro-401(k) and 403(b) plans and also IRAs. IRAs have much greater flexibility in withdrawal and conversion ...
Like its better-known sibling — the 401(k) — a 457(b) retirement plan is a tax-advantaged way to save for retirement. But the 457(b) is designed especially for employees of state and local ...
Individuals working for state and local governments, as well as some tax-exempt organizations, may be eligible for a 457(b) plan. This type of account is designed to help government and nonprofit ...
Retirement planning is no longer an easy task. Age, retirement plan options, taxes, and required minimum distributions (RMD) have all made the calculations much more difficult. You just about need ...
The DCP is an Internal Revenue Code Section 457(b) plan and allows eligible state employees to supplement retirement benefits by investing pre-tax dollars through voluntary salary deferral. [4] Employee contributions are deposited in the DCP and federal and state taxes will remain deferred until contributions are withdrawn.
When saving for retirement, your employer may give you a hand by offering a tax-advantaged savings plan. Your options might include a 401(k) plan or a 457(b) plan.
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