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403(b) vs. 457(b): Retirement Savings For Nonprofit And Government Employees

The American College of Financial Services
February 10, 2021

For those working in government jobs or in nonprofit organizations, the traditional 401(k) plan as a retirement savings account is usually replaced by alternatives, such as 403(b)s and 457(b)s. But how do these plans differ from other retirement accounts, and which should you choose if given the alternative?

Colin Slabach, Assistant Director of The College’s Center for Retirement Income, breaks down the differences and advantages of both plans in this piece from Forbes.

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