What Is a 457 Plan? A 457 plan is a tax-advantaged retirement savings plan that is offered to certain employees of many state and local governments and of some nonprofit organisations. In many ways, a 457 plan is similar to a 401(k) plan, which is the retirement-savings vehicle most common

Read More

Defined-Benefit vs. Defined-Contribution Plan: An Overview Employer-sponsored retirement plans can be broken down into two broad categories: defined-benefit plans and defined-contribution plans. The names are self-evident – a defined-benefit plan, also known as a traditional pension plan, guarantees an employee a certain amount of payment in retirement. A defined-contribution plan

Read More