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Can I be in the states 457 Plan if I am currently participating in a Tax-Sheltered Annuity (403B) Plan or the Optional Retirement Plan (ORP), or IRA (traditional, Roth, etc)?

April 26, 2017Annuity Currently Plan retirement plan State tax-sheltered

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Can I be in the states 457 Plan if I am currently participating in a Tax-Sheltered Annuity (403B) Plan or the Optional Retirement Plan (ORP), or IRA (traditional, Roth, etc)?

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Yes, you may contribute the maximum amount allowed into the 457 Deferred Compensation Plan at the same time you contribute the maximum to other pension plans. For example, if you participate in a 403(b) plan and 457 Deferred Compensation plan, you may contribute at least $15,500 in 2008 and $16,500 in 2009 in both plans.

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Yes, you may contribute the maximum amount allowed into the 457 Deferred Compensation Plan at the same time you contribute the maximum to other retirement plans.