Transcription of Important Information Regarding 457 Retirement Plan ...
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Important Information Regarding 457 Retirement Plan ...
When you become eligible for a full distribution you generally have these options:Leave your money in your employer s 457 planDirect rollover to your new employer s plan or an IRATake a distribution (More detailed Information is available on the back side of this page.)Look at the impact of taxes:Account Balance $50,000 Federal Income Taxes (25%)($12,500)Potential total less taxes $37,500 The table to the right points out the potential growth someone could missout on if they choose to cash out all of their Retirement plan at age most Important decision to consider is whether to leave your money growing tax-deferred for Retirement or take it outand pay the income taxes now.
Tax Consequences Pros Money continues to grow tax-deferred No 10% penalty when distributed You can access your account balance at any time Plan may offer diverse selection of
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