Your retirement savings should be growing—not shrinking because of simple mistakes. Yet many people fall for 457(b) transfer myths that could cost you thousands without even realizing it. You might think moving your money is quick, tax-free, and harmless. Sometimes it is. Sometimes it’s not. Small misunderstandings about rollovers, withdrawal rules, or tax timing can lead to surprise penalties or a larger tax bill. And those losses add up fast. The rules around 457(b) transfers are not always straightforward, and bad advice can be expensive. The good news? A little clarity can protect your savings and keep your retirement plans on track. Before you move your funds, learn the facts that could save you thousands.