As with the 403(b) plan, the market for the 457(b) plan is defined in the Tax Code. A 457(b) plan is actually a form of non-qualified deferred compensation plan that is available to employees of state, county and local governments (but not the federal government), as well as employees of non-profit
501(c)(3) organizations. Contribution limits and "catch up" contributions limits are the same as with regular 401(k) and
403(b) plans.
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