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White Out Deferred Compensation Plan

White Out Deferred Compensation Plan

Aug 6th, 2022

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How to White Out Deferred Compensation Plan

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A 457(b) plan is a retirement savings plan similar to a 401(k), primarily offered to government and non-profit employees. Both allow for investments that provide tax benefits. There are no income limits for contributing to a 457(b), unlike Roth IRAs. As of 2021, individuals can contribute up to $19,500 annually, with a higher limit of $26,000 for those aged 50 and above through catch-up contributions. This flexibility makes the 457(b) an attractive option for retirement savings, allowing participants to build wealth without the restrictions found in some other retirement plans.

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