A 457 plan is a type of nonqualified tax-advantaged deferred compensation retirement plan available for governmental and certain nongovernmental employers in the United States. Like a 401(k), the employer provides the plan, and the employee defers compensation into it on a pre-tax basis.
The key difference is that, unlike a 401(k) plan, there is no 10% penalty for withdrawal before the age of 59 1/2 (although the withdrawal is subject to ordinary income taxation). Another difference is that a 457 plan participant cannot make designated Roth contributions as participants in appropriately amended 401(k) and 403(b) plans can. Additionally, 457 plans (both governmental and nongovernmental) can allow independent contractors to participate in the plan where 401(k) and 403(b) plans cannot.
August 27, 2010
Milwaukee County Looking for 457 Plan Investment Consultant
Milwaukee County Looking for 457 Plan Investment Consultant
August 27, 2010 (PLANSPONSOR.com) – The Milwaukee County Select Committee on Deferred Compensation will release a request for proposals (RFP) for its 457(b) plan investment consulting services on August 31, 2010.
PLANSPONSOR staff
editors@plansp
August 02, 2010
CPI to Offer Symetra Daily Value Fixed Account
CPI to Offer Symetra Daily Value Fixed Account
August 2, 2010 (PLANSPONSOR.com) - Symetra Life Insurance Company announced its Daily Value Fixed Account (Daily Value) feature for retirement plans is now available on the CPI Qualified Plan Consultants, Inc., retirement program platform.
PLANSPONSOR staff
July 15, 2010
VALIC Announces Retirement Manager Enhancements
VALIC Announces Retirement Manager Enhancements
July 15, 2010 (PLANSPONSOR.com) – VALIC has announced new enhancements to its Retirement Manager program, a vendor-neutral solution for managing multiple 403(b) or 457 plans and multiple vendors within a plan.
Rebecca Moore
editors@plansponsor.com
July 20, 2010
CalSTRS Selects bWise Guys for Retirement Plan Education
CalSTRS Selects bWise Guys for Retirement Plan Education
July 20, 2010 (PLANSPONSOR.com) – The California State Teachers’ Retirement System (CalSTRS) has turned to bWise Guys, LLC to create a Web-based retirement plan education portal for California school employees.
Rebecca Moore
editors@plansponsor.com