pplpod29 Des 2025

Beyond the 401(k): Mastering 403(b) and 457 Retirement Plans

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Are you a teacher, non-profit worker, or government employee? You may have access to powerful retirement tools that operate differently than the corporate world's standard 401(k). In this episode, we break down the nuances of 403(b) and 457 plans to help you maximize your financial future.

First, we explore the 403(b), a tax-advantaged plan available to public education employees, 501(c)(3) non-profits, and ministers. We discuss its history as a "tax-sheltered annuity" (TSA) and how modern regulations now allow for investment in mutual funds. We also cover how bankruptcy protections have evolved for these accounts, and the addition of Roth (after-tax) options for tax-free withdrawals in retirement.

Next, we dive into the 457 plan, a non-qualified deferred-compensation plan for governmental and certain non-governmental employers. We highlight its "superpower": unlike 401(k)s or 403(b)s, the 457 plan generally has no 10% penalty for withdrawals taken before age 59½. However, listeners will also learn about the risks associated with non-governmental 457 plans, where assets legally remain the employer's property and are subject to forfeiture,.

Finally, we uncover the massive savings potential of "double dipping." We explain how the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) eliminated coordination limits, allowing eligible employees to contribute the maximum amount to both a 403(b) and a 457 plan simultaneously. We also touch on the unique catch-up contribution rules available to workers within three years of retirement.

Tune in to learn how to leverage these unique benefits and build a robust retirement strategy.

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