What Is A Governmental 457 Retirement Plan? 
Assuming youre referring to 457 -LRB- b -RRB- retirement plans , 457 -LRB- b -RRB- deferred compensation plans that are available in government and non-government organizations under 501 -LRB- c -RRB- . Theres no 59 penalty as long as the plan participant is retiring or ending employment . Government 457 can be rolled personal over to IRAs . Nonprofit workers can only roll their 457 plans over to another 457 plan . 2013 contribution limits are $ 17,500 and an extra $ 5,500 if you are age 50 or older . 