A 457 plan is a retirement savings account offered by state and local government employers and some non-profit organizations. If you work for a public agency or may have access to non-profit, your employer may offer this plan as a way to set aside money for retirement through payroll deductions. Understanding how a 457 plan works helps you decide whether to participate and how much to contribute.
The articles here explain the mechanics of 457 plans: how contributions work, what happens to your money, withdrawal rules, and how this plan differs from other retirement accounts like 401(k)s. You'll learn what you can and cannot do with the money, how taxes explore, and what options you have when you leave your job.