457 Withdrawal

I had a 457 that I do not contribute to, with a former employer. I am 60
years old, and if I take it all out what taxes would I pay? Thanks

BOBBYBOB,

A 457 is not a qualified plan so there is no penalty for any distribution.
Well, as long as you did not put any money into the 457 from a 401k or an IRA or other qualified plan. But then you are over the age of 59.5 so you are beyond any 10% penalty.

There will be a 20% withholding for income tax on the distributions. The distriubtion would be taxed as ordinary income.

You can transfer your 457 account to an IRA.