No. of Recommendations: 1
A 457 gives you the ability to withdraw the money with no penalty (just tax) when you leave your job. This is because the 457 is not considered a "qualified retirement plan". - be sure to scroll down to where it talks about 2002.

The 457 plan assets of tax-exempt employers are subject to the claims of the employer's creditors, but those of plans sponsored by governmental entities are not.
Beginning in 2002, someone who participates in both a 457 plan and a 401(k)/403(b) plan may make a maximum contribution to both plans without having to reduce the 457 plan contribution.
in some ways these plans have now become a better retirement tool than their 401(k) and 403(b) cousins
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.