What Is a 457 Deferred Compensation Plan in 2026? Contribution Limits, Withdrawal Rules, and How It Works
Quick Answer What Is a 457 Deferred Compensation Plan? A 457 deferred compensation plan is a tax-advantaged retirement savings arrangement offered by state and local governments and certain tax-exempt organizations, allowing you to set aside part of your salary now and pay taxes later when you withdraw the money. Unlike a 401(k), which is technically…

