A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- 403(b) PlanA retirement savings plan offered to teachers, nonprofit workers, and public employees, similar to a 401k in the private sector.
- 401(k)A retirement account through your job, often with an employer match — free money for saving.
- Contribution LimitThe maximum amount the government lets you put into a retirement account in a single year.
- Early Withdrawal PenaltyA fee a bank charges when you take money out of a certificate of deposit before its agreed-upon maturity date.
- Deferred CompensationAn arrangement where you set aside part of your pay to receive later, often in retirement, to postpone taxes on it.
- Catch-Up ContributionAn extra amount people age fifty and older can add to retirement accounts beyond the standard yearly limit.
Turn this into a brick
Knowing what 457 Plan means is knowledge — the first half. A brick gets placed when you act on it.
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Plain-English education — not personalized legal, tax, or investment advice.