Comments on: How Do 403(b) and 457 Plans Differ From a 401(k)? http://www.figuide.com/how-do-403b-and-457-plans-differ-from-a-401k.html FiGuide's free daily tips provides short, actionable strategies to help you achieve a successful, worry-free retirement. Fri, 10 Feb 2012 19:56:01 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Lon http://www.figuide.com/how-do-403b-and-457-plans-differ-from-a-401k.html#comment-3801 Lon Mon, 18 Apr 2011 16:54:55 +0000 http://www.figuide.com/?p=4630#comment-3801 Hi Ellis, I'm not sure I understand your question. If you work for a government organization that offers a 457 retirement account, you should be able to contribute as little as you like. Alternatively, if you are an organization hoping to create a 457 plan for your employees, the rules for setting these plans up can be quite complicated. For example, certain plans must be limited to only a certain group of highly compensated employees. I'd recommend you speak with potential plan administrators to get further information if you are considering establishing a plan, as this can be a complicated subject that is beyond my breadth of expertise. If I have misunderstood your question, don't hesitate to email me and I'll help you any way I can. lon@networthadvice.com. Thanks. Hi Ellis,

I’m not sure I understand your question. If you work for a government organization that offers a 457 retirement account, you should be able to contribute as little as you like.

Alternatively, if you are an organization hoping to create a 457 plan for your employees, the rules for setting these plans up can be quite complicated. For example, certain plans must be limited to only a certain group of highly compensated employees. I’d recommend you speak with potential plan administrators to get further information if you are considering establishing a plan, as this can be a complicated subject that is beyond my breadth of expertise.

If I have misunderstood your question, don’t hesitate to email me and I’ll help you any way I can. lon@networthadvice.com.

Thanks.

]]> By: Ellis http://www.figuide.com/how-do-403b-and-457-plans-differ-from-a-401k.html#comment-3800 Ellis Mon, 18 Apr 2011 15:43:06 +0000 http://www.figuide.com/?p=4630#comment-3800 Hi Lon, I have a question that does not seem to be covered by the documents that I have read and that is "what is the minimum amount required to open a 457 account?" and is this the same from state to state? I am located in Washington, DC. Thanks for your help Lon....Ellis. Hi Lon, I have a question that does not seem to be covered by the documents that I have read and that is “what is the minimum amount required to open a 457 account?” and is this the same from state to state? I am located in Washington, DC. Thanks for your help Lon….Ellis.

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