Texas Saver 457

Texas Saver 457. 100% of 457 eligible compensation or $15,500* per multiple plans annual deferral maximum you may defer a maximum of $15,500* in 2008 to each plan. If you are within three years of the taxable.

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The 10% federal early withdrawal penalty does not apply to the 457 plan withdrawals except for withdrawals attributable to rollovers from another type of plan or account. If you are age 50 or older, you may contribute an additional $6,500. If you are still working when you are 59 ½, you can take money out of your 401 (k).

Traditional Or Roth Traditional Or Roth *Maximum Or Specific Percent *Maximum Or Specific Percent.

You will not have a penalty. 401(k) 457 plan(s) percentage or dollar amount percentage or dollar amount. Withdrawal penalty before age 59½.

If Your 457 Plan Has Less Than $5,000 And Has Been Inactive For Two Years, You May Take It As A De Minimis Distribution;

The minimum contribution amount to the 401(k) and 457 plans is either $20 or 1% of your monthly gross salary. 20% may be withheld for federal income tax purposes. The 10% federal early withdrawal penalty does not apply to the 457 plan withdrawals except for withdrawals attributable to rollovers from another type of plan or account.

100% Of 457 Eligible Compensation Or $16,500* Per

You can roll money from a 401(k), 401(a), or 403(b) plan into the 457 plan (the early withdrawal penalty still applies to the 401(k), 401(a) and 403(b) monies). There are also two catch up provisions: This information is not intended as tax, financial planning or investment advice.

If You're Under Age 59½, You May Have To Pay An Additional 10% When You File Your Tax Return.

100% of 457 eligible compensation or $15,500* per multiple plans annual deferral maximum you may defer a maximum of $15,500* in 2008 to each plan. The annual maximum contribution limit is 99% of your eligible compensation or the irs limited amount per year, whichever is less. Orchard road greenwood village, co 80111.

If You Are Age 50 Or Older, You May Contribute An Additional $6,500.

Employees retirement system of texas. After 2008, amounts will be adjusted for inflation. If you are age 50 or older, you may contribute an additional $5,500* in 2009.