How does a 457 retirement plan work?

How does a 457 retirement plan work?
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1 Answer

Answer :

A 457 retirement works by deducting any contributions out of your paycheck before the taxes come out. They are a great way to save money that is tax-deferred. Only those who are employed by nonprofit 501(3)(c) institutions and public schools are eligible for the type of retirement plan. For more info please visit www.irs.gov.
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Related questions

Where can I find more information about 457 retirement plans ?

Description : Where can I find more information about 457 retirement plans ?

Last Answer : A 457 plan is similar to the commonly-heard 401k plan, but with some differences. It does not have the 10% withdrawal penalty before age 49.5 and allows for the participation of individual contractors unlike the 401k. More information can be found on nyc.gov, nysdcp, and Wikipedia.

what is the greatest number you can add to 457 without having to regroup it?

Description : what is the greatest number you can add to 457 without having to regroup it?

Last Answer : don't know

What is 278 457 rounded to the nearest ten thousand?

Description : What is 278 457 rounded to the nearest ten thousand?

Last Answer : If you mean 278,447 then it is 280,000 to the nearest tenthousand

A sum of money is divided among Suresh, Ganesh, Vignesh and Mahesh in the ratio of 3 : 4 : 9 : 10 respectively. If the share of Vignesh is Rs.2,580/-more than the share of Ganesh, then what is the total amount of money of Suresh and Mahesh together ? a) Rs. 6,985/- b) Rs. 6,487/- c) Rs. 6,708/- d) Rs. 7,156/- e) Rs. 8,457/-

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Last Answer : According to the question, difference of ratio of Ganesh and Vignesh is 5 so, 1 ratio = 2580/5 = 516 Now, total ratio of Suresh + Mahesh = 13 So, total money = 13 × 516 = Rs. 6708 Answer: c)

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what are the advantages and disadvantages of a defined benefit retirement plan?

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Are mutual funds able to be held in a registered retirement savings plan?

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Can an individual contribute to an IRA and another retirement plan at the same time?

Description : Can an individual contribute to an IRA and another retirement plan at the same time?

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How does one contact a retirement plan administration?

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Last Answer : When something big comes up, such as the need for a new car, you may be tempted to use the money in your 401k retirement plan to pay for it. This is possible, but it is not wise. ... gratification of a new purchase quickly, but you will not have enough money to retire comfortable in the long run.

Retirement Plan?

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What is the best retirement savings plan to invest in?

Description : What is the best retirement savings plan to invest in?

Last Answer : The best retirement savings plan to invest in depends on your financial needs and what works for you. You should meet with a financial advisor and look at the different options available.

Are you penalized for withdrawing money early from your retirement pension plan?

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How does a 403b retirement plan differ from a 401(k) plan?

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