457 vs 403b
So what is the Difference between a 403b and a 457? Simple, education and non-profit. These are the only organizations that are eligible for 457 plans. If you are apart of these two types then you will definitely want to jump on the 457 wagon as it gains you additional tax advantages for deferred compensation and doesn't have the 10% tax penalties that 403b's carry for an early cash out.
Read More457 Retirement Plans
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.
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