A 457 plan is a type of retirement plan offered by government and nonprofit organizations. 457 plans allow you to defer a portion of your pay, invest in various assets, and pay taxes upon withdrawal.

A 457(b) is offered to state and local government employees, while a 457(f) is for top-level executives at non-profits. 457(b) If you have a 457(b) plan, you can contribute up to $23,000 in 2024 ...

457(b) plans more flexible on withdrawal than 401(k)s. If you have left your employer, then you can normally take out money from your 457(b) without the 10% penalty that a 401(k) plan may incur ...

You often see various types of workplace retirement savings plans--401(k)s, 403(b)s, and 457 plans--discussed as something of a monolith. Of course, they vary in who can invest in them: 401(k)s ...

A 457 b plan is mainly for employees of state and local governments -- but not the federal government. (Federal workers can save through the Thrift Savings Plan.) ...

457 vs. 401k: Similarities and Differences. Learn the largest similarities and differences between a 457 plan versus a 401(k). Eligibility. One major difference in eligibility between the plans is ...

Both 457 plans and 403(b)s are retirement accounts available to public sector employees—but each has its own rules, features, and benefits.

The maximum amount you can contribute to a 457 retirement plan in 2024 is $23,000, including any employer contributions. That’s an increase of $500 over 2023. For example, if your employer ...

457 plan contribution and catch-up limits for 2025. The maximum amount you can contribute to a 457 retirement plan in 2025 is $23,500, including any employer contributions.