Changing job-transfer to what?

[Minsi]

I am leaving my state job for another facility, I have over 800 hr on the books which if cashed out would be >$100k, which in turn I would pay 40% tax on. What could I potentially roll that into to save some on being taxed? 457? And 401k? Any other options to put money into ? Also can a person have just 1 401k? Or can we have more than one from different employers? Thank you

[Duckie]

Minsi, welcome to the forum.

I am leaving my state job for another facility,

Is the other "facility" a state job in another location or a job with a different employer?

I have over 800 hr on the books which if cashed out would be >$100k, which in turn I would pay 40% tax on.

Hours of what? Is this vacation time, sick leave, what?

What could I potentially roll that into to save some on being taxed? 457? And 401k?

I doubt you can tax-shelter that income.

Also can a person have just 1 401k? Or can we have more than one from different employers?

You can have more than one 401k at the same time. So if you have a 401k at the job you are leaving and will have another 401k at the new job you can keep both, if you want, but only contribute to the new job's plan. There are contribution limits you need to be aware of, though.

[MishkaWorries]

In my situation, when I left my government job I had about $10,000 in unpaid leave. I was able to change my contribution to my government 457(b) to capture most of that.

You may be able to do that as well plus divert some to an 401(k) (my agency didn't have an 401(k)).

But don't forget there are maximum yearly contributions to 457(b) and 401(k) accounts. Be sure not to over contribute.