As state university employee, in addition to SURS pension and 403b (traditional and Roth- 23k limit), there are two types of 457 plans available to me. State of IL 457 (traditional and Roth) and more recently added SURS 457 plan (traditional and Roth).
Currently, I am contributing to all those accounts. If I were to choose, I will be able to max out either 403b or 457 and additional funds in remaining account.
To keep it simple, I want to contribute to either State of IL 457 or SURS 457. I don't want to split my contributions in both.
I was wondering if anyone has any thoughts about which is better 457 plan . The investment options (low cost invest funds) and fees are probably not much different (both have low fees). I was more curious about the difference in distribution rules, in-service distributions (SURS 457 seems to have more lenient options), hardship withdrawals, and loans (it seems SURS 457 doesn't offer loans).
TIA![:sharebeer]( "celebrate")
Currently, I am contributing to all those accounts. If I were to choose, I will be able to max out either 403b or 457 and additional funds in remaining account.
To keep it simple, I want to contribute to either State of IL 457 or SURS 457. I don't want to split my contributions in both.
I was wondering if anyone has any thoughts about which is better 457 plan . The investment options (low cost invest funds) and fees are probably not much different (both have low fees). I was more curious about the difference in distribution rules, in-service distributions (SURS 457 seems to have more lenient options), hardship withdrawals, and loans (it seems SURS 457 doesn't offer loans).
TIA
Statistics: Posted by indicurious — Fri Oct 18, 2024 7:33 pm — Replies 2 — Views 126