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457b government plan pepe unchain Bnb Eth XRP crypto futures coinbase futures binance futures

What is a 457(b) plan?

Plans eligible under 457 (b) allow employees of sponsoring organizations to defer income taxation on retirement savings into future years. Ineligible plans may trigger different tax treatment under IRC 457 (f). Who can establish a 457 (b) plan? The organization must be a state or local government or a tax-exempt organization under IRC 501 (c).

Can Public Employees save for retirement in a 457(b) plan?

Many public employees have the option of saving for retirement in a 457 (b) plan. 457 (b)s are most common with state and local government employees. Here are some specific examples: These employees can opt to have money taken out of each paycheck and stashed in a 457 (b) retirement account.

Does a 457(b) plan have a contribution limit?

Unlike 401 (k)s and 403 (b)s, there is no separate employer contribution limit for 457 (b) plans. Another unique feature is that if you're within 3 years of your plan's normal retirement age, your 457 (b) plan might allow you to contribute:

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