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Questions tagged [457b]

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What is the reasoning behind high income requirements for 457b plan enrollment

If 457b plans are designed primarily for state and local government employees whose mean compensation is typically lower than 100K in the U.S., why would some institutions that employ state/local ...
iskandarblue's user avatar
2 votes
0 answers
69 views

457(b) withdrawal limits?

I have a 457(b) from a state (Minnesota) employer which allows me to withdraw money from it in either regular monthly amounts or via 1-time withdrawals. Years ago (5-7?) I was told that once I start ...
scottef's user avatar
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1 vote
1 answer
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Should I increase my regular 457(b) contributions or start a Roth 457(b)?

I am 28 years old and fortunately in a position where I am able to max out my Roth IRA contributions each year. I am also now contributing a similar amount (~$6,000/year) to my employer-sponsored 457(...
Jack's user avatar
  • 303
5 votes
1 answer
459 views

Why would anyone choose 403b over 457b?

Some employers offer both 403b and 457b as retirement plans. I looked at them, and it seems they are very similar, except that 457b does not have early withdrawal penalty. It seems 457b is better than ...
Mas's user avatar
  • 183
1 vote
1 answer
245 views

Calculating a combined savings percentage when saving pre- and after-tax money

This seems like a really simple and obvious question, but I can't find any previous questions on this site that directly address it. Perhaps it's so simple that people find it trivial. Almost all ...
Jack's user avatar
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0 votes
0 answers
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Am I on the right track? Feedback welcome!

Here's my situation: 43 y/o, married w/ two kids under 10. I'm in a defined benefit program and I have a formula where I can retire at 60 with 2% of my highest salary times the number of service ...
jayinla's user avatar
2 votes
1 answer
61 views

457(b) - funding options

I'd like to put some money we saved towards my wife's Roth 475b. Is it possible to just write a check from a personal account as a contribution or must is come out of her paycheck?
acpilot's user avatar
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3 votes
1 answer
72 views

Are Governmental Roth 457b Distributions taxed if someone still works for the employer?

If someone has a Roth 457b plan, they're allowed to withdraw all the cash tax-free after they no longer work for the employer (as long as it's a qualified distribution). But if someone Still Works ...
Tom's user avatar
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0 votes
1 answer
208 views

Is there a tax penalty for rollover from Thrift Savings Plan(TSP) to 457(b)?

I have non-roth funds in the TSP and have separated from the military. I'd like to move this to a public employee sponsered 457(b) so I can begin contributing again. Are there any IRS tax penalties (...
TooSerious's user avatar