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  1. Well, now that we've veered off the cliff into flame territory, I thought I'd give an update. We finally decided to go with the 457. It seemed like the two plans were exactly the same, so the slight advantage of no early withdrawal penalty cinched it. Both can be rolled into an IRA upon retirement, so it didn't seem like it mattered that much. Thanks all for the input.
  2. Thank you for the answer--I was unaware that the 403(b) was also unqualified. I don't see how a 457 is more flexible either.
  3. We're offered both a 403(b) and 457(b) with exactly the same investment options. I don't know which to fund first. The only difference seems to be that there's no penalty for early withdrawal from the 457, but the 457 is a "non-qualified" retirement plan. What does this mean? I thought it meant that it can't be rolled into a qualified retirement account (e.g. IRA), but the latest literature says that it can be. Or is that only when there's a "qualifying event"? Can someone explain this qualified/non-qualified stuff?
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