nun
Thinks s/he gets paid by the post
- Joined
- Feb 17, 2006
- Messages
- 4,872
I have to thank mja for letting me know about 457 plans. They are available to state and government employees and they must be the bst deal in town. Their features are:
Annual limit 2006 is $15000
You put in money before state and federal tax
the money grows tax free
Distributions are taxed as income.
ok so they seem pretty much like a 401k or 403b, but here's the advantage.
You can get your money out without penalty as soon as you leave employment. you don't have to wait until 59 1/2. So if you have access to one fund it.
Annual limit 2006 is $15000
You put in money before state and federal tax
the money grows tax free
Distributions are taxed as income.
ok so they seem pretty much like a 401k or 403b, but here's the advantage.
You can get your money out without penalty as soon as you leave employment. you don't have to wait until 59 1/2. So if you have access to one fund it.