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empben

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Everything posted by empben

  1. What does "compensation plan" mean when you describe a 457b plan? When describing the 403b it said point blank "retirement plan". Is there a difference in what a 457b and a 403b are, in that one is mainly for more money at retirement and the other one not so much? Also, we have employees still working at age 70 1/2. What happens with their investments? Do they have to withdrawal from either plan? (457b or 403b) Some employees retire at age 75. If the 70 1/2 rule does not apply because they were working, what happens when they retire at 75?
  2. empben

    Please Define

    Yes it does. Thank you very much! It was a great help.
  3. empben

    Please Define

    What exactly does non qualified mean in "A 457(b) plan is a non-qualified tax-deferred compensation plan that works very much like other retirement plans..."? Does it have something to do with who can enroll in a 457(b)?
  4. Can you withdraw early from a 457(b) without penalty?
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