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Greetings, Chrsteen, and welcome. You wrote:

<<I have money in a 457b plan (local government job). The money has all been tax deferred and my employer did not contribute. It can't be rolled over into an IRA, but it can be cashed out, now that I have left that job. I can either cash it out with no penalty, but pay taxes on it this year, or I can leave it in. I want to cash it out and start a Roth IRA with $4000. The rest should just about cover the taxes. Does anyone have any experience with these plans? I haven't been able to find any information on them. >>

You will find a brief description of 457 plans in my Foolish Retirement Plan Primer available at If you have the earned income from a job this year and otherwise meet Roth eligibility, then certainly you could use part of the money to fund a contribution. I assume you're planning to contribute $2K each for tax-years 1999 and 2000 and make those contributions before April 17. If not, you should be aware that you may only contribute $2K to a Roth in any given tax-year.

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