Isn’t a 457 the same as an annuity?
No. Although our plan has similar characteristics of an annuity, it’s quite different than an annuity. Annuities are not insured and are sold by brokers and insurance agents. Vantage Credit Union’s 457 DCP is federally insured up to $250,000 per account with someone you can trust—your credit union. Annuities often have surrender or management fees associated with them. Our 457 DCP has no surrender or management fees. Annuities often have either (or both) front- or back-loading fees. Our 457 DCP has neither front- or back-loading fees.
