Although they are sometimes used by non-profit organizations, 457(b)s are probably best known as the deferred-compensation, retirement vehicles of choice for state and local government jobs.
They share numerous things in common with the better known, and more widely discussed employer-sponsored 401(k) plan and the Tax-Sheltered Annuity / 403(b) plan.
However, there are also a few notable differences.
In this video, I survey some of the basic concepts relevant to 457 plans. Although I make passing mention of 457(f)s, we will largely focus upon 457(b)s.
Disclaimer: This video is intended for general informational or entertainment purposes only. It is not to be construed as providing financial, insurance, investment, legal, retirement, or tax advice of any kind. For tailored recommendations, consult your plan administrator or a competent and licensed professional in your area.
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Great and very informative video!
Thank you for sharing.
This video was extremely informative, thank you
Thank you!
You left out the most important thing on the 457 plain. (The FEES THEY CHARGE YOU.) ALSO, WEATHER YOU MAKE MONEY OR LOSE MONEY YEAR AFTER YEAR. They still take the fees out. They are stealing your retirement. The yield they show you is not really what you are getting. What you get is after they take out the fees. Witch is a lot less !