The Retirement Advantage 457(b) Plan - Reviews, Benefits, Fees & Ratings

If you are looking for a retirement plan that offers unique benefits, The Retirement Advantage 457(b) Plan may be the perfect option for you. This plan has been designed to help employees save for their retirement and offers a variety of features that can make it easier to reach your savings goals.

In this guide, we will provide an overview of the plan's features and reviews from current participants. We will also compare the fees and ratings associated with The Retirement Advantage 457(b) Plan.

What is a The Retirement Advantage 457(b) Plan?

A The Retirement Advantage 457(b) Plan is a retirement savings plan that is sponsored by your employer. It allows you to save for retirement on a tax-deferred basis. This means that you will not have to pay taxes on the money that you contribute to the plan until you withdraw it at retirement.

How Does a The Retirement Advantage 457(b) Plan Work?

A The Retirement Advantage 457(b) Plan works by allowing you to save for retirement on a tax-deferred basis. This means that you can contribute to your plan without paying taxes on the money until you withdraw it in retirement. The money in your account then grows tax-free, which can help you build up a larger nest egg.

What Are The Key Features of a The Retirement Advantage 457(b) Plan?

The key features of a The Retirement Advantage 457(b) Plan are:

• Contributions can be made on a before-tax and/or after-tax (Roth) basis
• Employees can contribute up to the IRS maximum each year ($19,000 in 2019), plus an additional $6000 "catch-up" contribution for employees aged 50 and over
• Employer matching contributions are not available
• Funds can be used to cover a wide variety of expenses related to retirement, including medical bills and long-term care costs
• Withdrawals are subject to income taxes, and early withdrawals may be subject to a penalty

What Commissions and Management Fees Does a The Retirement Advantage 457(b) Plan Come With?

The Retirement Advantage 457(b) Plan comes with an annual management fee of 0.35%. This fee is assessed on the total value of assets in the account, and it covers the costs of managing the account and investing the assets.

There is also a commission charged on each trade made within the account. For most trades, this commission will be $0.0075 per share, with a minimum of $0.35 and a maximum of $0.70.

What Are The Advantages of a The Retirement Advantage 457(b) Plan?

One of the advantages of a The Retirement Advantage 457(b) Plan is that it allows you to save for retirement on a tax-deferred basis. This means that you will not have to pay taxes on the money you contribute to your plan until you withdraw it at retirement.

Another advantage of this type of plan is that the money you contribute can be invested in a variety of different investments, including stocks, bonds, and mutual funds. This gives you the opportunity to grow your retirement savings at a faster rate than if you were simply investing in a traditional savings account.

What Are The Disadvantages of a The Retirement Advantage 457(b) Plan?

Just like with any other retirement plan, there are some disadvantages that come along with a The Retirement Advantage 457(b) Plan.

One of the biggest disadvantages is that you are not able to contribute as much money into a The Retirement Advantage 457(b) Plan as you can with other types of retirement plans. For example, you can only contribute a maximum of $18,000 per year into a The Retirement Advantage 457(b) Plan.

Another disadvantage of a The Retirement Advantage 457(b) Plan is that you are not able to access your money as early as you can with other types of retirement plans. For example, if you retire at age 55, you will not be able to access your money until you reach the age of 59 ½.

The last disadvantage of a The Retirement Advantage 457(b) Plan is that you are not able to take out a loan against your account like you can with other types of retirement plans.

What Are Some Alternatives to a The Retirement Advantage 457(b) Plan?

There are a few alternatives to the Retirement Advantage 457(b) Plan.

One option is the Roth IRA. With a Roth IRA, you can make after-tax contributions and all future withdrawals are tax-free.

Another option is the traditional IRA. With a traditional IRA, you can make pre-tax contributions and your withdrawals in retirement will be taxed as ordinary income.

There are also 401(k) plans offered by many employers. With a 401(k), you can make pre-tax contributions and your withdrawals in retirement will be taxed as ordinary income.

Finally, there are annuities. An annuity is a contract between you and an insurance company where you make payments over time and then receive payments in retirement.

How Do You Open a The Retirement Advantage 457(b) Plan?

You can open a The Retirement Advantage 457(b) Plan by contributing to it through your employer. If your employer doesn't offer this type of retirement savings plan, you can still contribute to one on your own. The process is simple and only requires that you have a few things set up before you get started.

The first thing you need to do is set up a The Retirement Advantage 457(b) Plan account with a financial institution. You can do this through your employer or on your own. Once you have an account set up, you'll need to make sure that you're contributing enough money to it each year to get the maximum benefits.

The second thing you need to do is invest the money in your The Retirement Advantage 457(b) Plan account. This can be done through a number of different methods, but the most common is to invest in a mutual fund. There are many different types of mutual funds available, so you'll need to do some research to find the one that's right for you.

Once you've done these two things, you'll be on your way to saving for retirement. The sooner you start, the better off you'll be.

***

What is The Minimum Amount Required to Open a The Retirement Advantage 457(b) Plan?

The Retirement Advantage 457(b) Plan has a minimum opening deposit of $25,000. This is an attractive feature for many investors because it allows them to start saving for retirement with a relatively small amount of money.

What Are The The Retirement Advantage 457(b) Plan Contribution Limits?

The The Retirement Advantage 457(b) Plan contribution limits are pretty high. You can contribute up to $18,000 per year, and if you're over the age of 50, you can contribute an additional $6000 per year.

That's a total of $24,000 that you can put into this retirement savings plan each year! And since the The Retirement Advantage 457(b) Plan is a tax-deferred retirement savings plan, that means that you won't have to pay taxes on your contributions until you withdraw them at retirement.

What Are The Eligibility Requirements for a The Retirement Advantage 457(b) Plan?

To be eligible for a The Retirement Advantage 457(b) Plan, you must:

• be employed by a state or local government or certain tax-exempt organizations
• have a regular salary or wage income

Do You Pay Taxes On a The Retirement Advantage 457(b) Plan?

The answer to this question is a bit complicated. While you don't technically pay taxes on the money you contribute to your The Retirement Advantage 457(b) Plan, you will eventually have to pay taxes on the money when you withdraw it in retirement.

This is because the The Retirement Advantage 457(b) Plan is a tax-deferred investment, which means that you only pay taxes on the money when you take it out.

When Can You Withdraw Money From a The Retirement Advantage 457(b) Plan?

You can begin withdrawing money from your The Retirement Advantage 457(b) Plan account as soon as you reach retirement age, which is typically 55 or older.

However, keep in mind that if you withdraw funds before age 59½, you may be subject to a early withdrawal penalty. Also, note that the money in your The Retirement Advantage 457(b) Plan account is taxed as ordinary income when you withdraw it.

How Does a The Retirement Advantage 457(b) Plan Compare to a 401K?

The obvious answer is that a 457 plan offers more benefits than a 401K.

For one, you can contribute up to 100% of your salary to a 457 plan, whereas the contribution limit for a 401K is only $18,000 (or $24,000 if you're over 50). This means that you can save significantly more for retirement with a 457 plan.

Another advantage of a 457 plan is that the money you contribute is not subject to income tax. This means that your investment will grow much faster than it would in a 401K, since you're not paying taxes on the money you're putting away.

Finally, withdrawals from a 457 plan are also tax-free, whereas withdrawals from a 401K are subject to income tax. This means that you'll have more money to live on in retirement if you have a 457 plan.

What Assets Are Available With a The Retirement Advantage 457(b) Plan?

The Retirement Advantage 457(b) Plan offers a wide variety of investment options, including stocks, bonds, mutual funds, and annuities. Participants can also choose to invest in a self-directed brokerage account.

Why Do People Use a The Retirement Advantage 457(b) Plan?

People use a The Retirement Advantage 457(b) Plan for many different reasons. Some people want to retire early and take advantage of the tax benefits associated with the plan. Others simply want to save for their retirement and enjoy the peace of mind that comes with knowing they have a plan in place.

Does a The Retirement Advantage 457(b) Plan Accept Rollovers?

The Retirement Advantage 457(b) Plan does accept rollovers from other eligible retirement plans, including 401(k)s and 403(b)s. This can be a great way to consolidate your retirement savings and keep them all in one place.

One thing to keep in mind is that if you do roll over money into a The Retirement Advantage 457(b) Plan, you may not be able to take that money out until you reach retirement age. This is something to consider if you're thinking about rolling over money from another retirement account.

How Long Does It Take to Transfer to a The Retirement Advantage 457(b) Plan?

It usually takes around two weeks to transfer funds into a The Retirement Advantage 457(b) Plan. This time frame can be shortened or lengthened depending on the account holder's bank and the receiving custodian.

Once the funds have been transferred, they will be invested according to the investment options chosen by the account holder. These options will be determined when the account is opened and can be changed at any time.

How Do You Put Money Into a The Retirement Advantage 457(b) Plan?

You can contribute to a The Retirement Advantage 457(b) Plan in a few different ways. The most common way is through payroll deductions from your paycheck, but you can also make catch-up contributions if you're over the age of 50, or make lump sum contributions as well.

Can You Open a The Retirement Advantage 457(b) Plan For a Child?

The Retirement Advantage 457(b) Plan is a great way to save for retirement, but can you open one for a child? The answer is yes! In fact, opening a The Retirement Advantage 457(b) Plan for a child is a great way to start them off on the right foot financially.