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.

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.

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.

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.

It’s important to save for retirement, but only half of Americans have calculated how much money they’ll need, according to ...

The Internal Revenue Service (IRS) announced on November 1, 2024, that the maximum contribution limit for 401(k), 403(b), most 457 plans, and the Thrift Savings Plan will ...

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.

As a retired New York City employee, I don’t pay New York State taxes on my pension payments.Are the distributions from my 401(k) and 457 plans also considered annual retirement payments and ...

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.