A 457 plan is a retirement savings account offered by state and local government employers and some nonprofit organizations. If you work for a public agency or may have access to nonprofit, you can contribute money directly from your paycheck into this account, where it grows tax-deferred until you withdraw it in retirement. Understanding how your 457 plan works—what you can contribute, when you can access the money, and how it differs from other retirement accounts—helps you make the most of this benefit.
These articles answer common questions about 457 plans: How much can you contribute each year? What happens to your money if you change jobs? Can you withdraw funds before retirement, and what are the consequences? How does a 457 plan interact with Social Security or other retirement savings? Whether you're new to your employer's plan or trying to understand a specific rule, you'll find straightforward explanations of how the plan operates and what your options are.