Compare Plans

  401(k)*403(b)457(b)
Eligible Employees of private employers, some non-profit employers, and churches Employees of non-profits, such as churches and public schools Employees of state and local government, churches, and public schools
Pre-tax contributions Yes
Roth
after-tax contributions
Yes
Age 50+ catch-up contributions Yes
Additional catch up No Yes - 15-year rule** Yes - last 3 years rule***
Limitations on deferrals Lesser of IRS dollar ($18,000 for 2017) limit or 100% of compensation Limit not coordinated with 401(k) and 403(b) limit
Limitations on total contributions Lesser of IRS dollar ($54,000 for 2017) limit or 100% of compensation Same as deferral limit
Distributions while employed Only on hardship; over 59 ½ Only on account of unforeseeable emergency; age 70 ½ or older
Distributions without tax penalty****
  • Retirement after age 55
  • Death or disability
  • After age 59 ½ 
  • Lifetime annuity or installments
  • Rollover
Distributions of amounts you have contributed 
Distributions with tax penalty****
  • 10% prior to age 59 ½, except as above
  • Retirement or separation before age 55
  • Hardship
Amounts rolled over from other retirement plans may be subject to the penalty, if distributed prior to age 59 ½ (unless another IRS exception applies)
Required minimum distributions  April 1st, following the later of the year in which you become age 70 ½, or the year in which you retire (if plan permits).
Rollovers Yes, if allowed by the Plan, but not required


*We do not provide administrative services for these plans. 

**Eligible employees with 15 or more years of full-time service may be able to contribute up to $3,000 more for 5 years, or a maximum of $15,000.

***May be eligible to defer up to 2 times the contribution limit in effect for the final 3 years of service. Employees cannot participate in the 3-year-catch-up and the 457(b) Plan age 50+ catch-up during the same tax year.

****The IRS imposes a 10% additional tax penalty on certain early distributions form certain retirement plans.

 ESB-5234-0816