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401k or 457 Deferred Compensation?
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My last job I had a 401k, but if I get the job I'm interviewing Tuesday for, they have some 457 Deferred Compensation plan. What the heck is the difference? This is the best I could find comparing the two, link. Which is better? |
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Rank: 4th Round Draft Pick
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Appears to be a 401(k) equivalent for government employees. I work for a non-profit and it's a 403(b) plan instead of a 401(k), but it's basically the same thing. |
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 1 user applaud's rabidgopher04 for this useful post.
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Rank: Pro Bowl
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Originally Posted by: Zero2Cool  My last job I had a 401k, but if I get the job I'm interviewing Tuesday for, they have some 457 Deferred Compensation plan. What the heck is the difference? This is the best I could find comparing the two, link. Which is better? I am being told the best thing is the roth's so instead of rolling over your 401 put it in an IRA Roth |
 Just Imagine this for the next 6-9 years. What a ride it will be :) |
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Rank: Most Valuable Player
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Originally Posted by: dhazer I am being told the best thing is the roth's so instead of rolling over your 401 put it in an IRA Roth
Yes. Depends on one's age, but since Zero is quite young, Roth IRA is the way to go. Gives you WAY more freedom than a 401k. |
My man Donald Driver  (thanks to Pack93z for the pic) 2010 will be seen as the beginning of the new Packers dynasty.    |
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