457(b) vs 403(b)

by Retirement Advisor | Dec 4, 2022 | 403b

Public-sector and nonprofit organizations don’t offer 401(k) plans that employees can contribute to. However, they can and do offer other employer-sponsored plans: the 403(b) and the 457(b). A 457 plan has two types. A 457(b) is offered to state and local government employees and a 457(f) is for top executives in nonprofits. A 403(b) plan is typically offered to employees of private nonprofits and government workers, including public school employees. This video attempts to explore the similarities and differences of the two plans.

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