Here's the text itself. Retirement info starts on page 177. https://www.finance.senate.gov/imo/media/doc/11.9.17%20Chairman's%20Mark.pdf
For us, the hits just keep on coming; first the taxing of tuition for graduate assistants and fellows and then the proposed 457 changes (withdrawal tax and halving the contribution limits). I suppose at least it's a learning experience - never plan based on current law.
Wow, thanks for pointing this out! The text at the top of page 179 says:
"The proposal applies a single aggregate limit to contributions for an employee in a
governmental section 457(b) plan and elective deferrals for the same employee under a section
401(k) plan or a 403(b) plan of the same employer. Thus, the limit for governmental section
457(b) plans is coordinated with the limit for section 401(k) and 403(b) plans in the same manner
as the limits are coordinated under present law for elective deferrals to section 401(k) and
section 403(b) plans. "
I have been lucky enough to work for an organization that offers both a 403(b) and 457(b) plan. As a Mustachian, I have been loading them to the hilt every year, and celebrated turning 50 by contributing the extra $6000 catch-up contribution to each. If they pass this (I guess they have passed it) then I will retire next year rather than lose the ability to make those contributions. I have been waffling on retiring next year or not - this definitely makes the decision for me.
As long as they don't also get rid of the "Rule of 55" (I am 55 now).