Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Greetings, Cookala, and welcome. You asked:

<<I read your article about rolling a 401K distribution into an IRA but I don't believe I can do that with a 457B. Is that correct? >>

That's correct. A 457 plan is a nonqualified deferred compensation plan. As such, on distribution the monies therein will be taxed as ordinary income in the year of receipt and they cannot be transferred to an IRA.

Regards..Pixy
Print the post  

Announcements

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.
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.