Row 38274

Row ID: 38274 | Dataset Entry | Axioma AXP Content Repository

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Is it a governmental or non-governmental 457b? A big distinction is non-gov cannot be rolled over to other retirement accounts (except sometimes another non-gov 457b).

This gives a good overview: https://www.fidelity.com/learning-center/smart-money/what-is-a-457b

If you have access to a pension, most likely it alone will not cover your full expenses in retirement. As such, you’ll need to save elsewhere. Tax deferred is for sure the way to go, in which case if your choice of employer offers a 457b that may be your only (or current) route. The comment you made about distributions from the 457 affecting your taxes is pretty weak. You need money to live on. If you need money from the 457, you pull out what’s needed, not a lump sum. If governmental, you could always roll into an IRA. If you leave your job, why would you receive a lump payment? Again, if governmental, you can roll it over. If non-governmental, you just leave the money in the plan until you start taking distributions. Which you have the ability to setup payments. Not only that, 457bs do not have the early withdrawal penalty that 401ks and 403bs have.

FieldValue
text Is it a governmental or non-governmental 457b? A big distinction is non-gov cannot be rolled over to other retirement accounts (except sometimes another non-gov 457b). This gives a good overview: https://www.fidelity.com/learning-center/smart-money/what-is-a-457b If you have access to a pension, most likely it alone will not cover your full expenses in retirement. As such, you’ll need to save elsewhere. Tax deferred is for sure the way to go, in which case if your choice of employer offers a …
label r/investing
dataType comment
communityName r/investing
datetime 2024-05-22
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Raw Record

{
  "text": "Is it a governmental or non-governmental 457b? A big distinction is non-gov cannot be rolled over to other retirement accounts (except sometimes another non-gov 457b). \n\nThis gives a good overview: https://www.fidelity.com/learning-center/smart-money/what-is-a-457b\n\nIf you have access to a pension, most likely it alone will not cover your full expenses in retirement. As such, you’ll need to save elsewhere. Tax deferred is for sure the way to go, in which case if your choice of employer offers a 457b that may be your only (or current) route. The comment you made about distributions from the 457 affecting your taxes is pretty weak. You need money to live on. If you need money from the 457, you pull out what’s needed, not a lump sum. If governmental, you could always roll into an IRA. If you leave your job, why would you receive a lump payment? Again, if governmental, you can roll it over. If non-governmental, you just leave the money in the plan until you start taking distributions. Which you have the ability to setup payments. Not only that, 457bs do not have the early withdrawal penalty that 401ks and 403bs have.",
  "label": "r/investing",
  "dataType": "comment",
  "communityName": "r/investing",
  "datetime": "2024-05-22",
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