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 plan can also be used in tandem with other accounts like a 401(k) or IRA. In many cases, you may be able to choose both a 457 and another plan to maximize your contributions.

401(k) plans and 457 plans are tax-advantaged retirement savings plans. 401(k) plans are offered by private employers, while 457 plans are offered by state and local governments and some nonprofits.

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

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 ...

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.

A 457 plan is a kind of defined contribution retirement plan for state and local public employees. It can also be offered by certain nonprofit organizations.

In this episode of Ask The Hammer, a reader asks: I have a governmental 457(b) plan, a deferred compensation plan. And I understand that I can take distributions from this plan at any time without ...

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 ...

A 457 plan is a kind of defined contribution retirement plan for state and local public employees. It can also be offered by certain nonprofit organizations.