Posts Tagged ‘457 Plan’
What is the difference betwen 401 and 457 retirement plan for a government employee?
simplyme asked:
I am a local government employee. Speaking from my memory 401 is pretty identical to 401 offered in private sector. You are immediately eligible for it.
I am a local government employee. Speaking from my memory 401 is pretty identical to 401 offered in private sector. You are immediately eligible for it.
I want to make sure I am understanding 457 right. I think you become eligible for 457 only after one year of service and there’s no early withdrawl penalty (10%) if you withdraw before your retirement age. Am I right?