Your 457(b) deferred compensation allows public employees like you to put aside money from each paycheck toward retirement. A deferred comp plan can help bridge the gap between what you have in your pension and Social Security, and how much you’ll need in retirement.

Frequently asked questions
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A 457(b) plan allows for penalty-free withdrawals once you stop working for your public sector employer, even if you are under age 59½. This is a unique benefit compared to other retirement plans, which typically impose a 10% early withdrawal penalty tax for withdrawals prior to age 59½.

Tax-deferred, also known as pre-tax, means you don't pay income taxes on your plan contributions or earnings until you withdraw the money, typically in retirement. This can lower your taxable income now and potentially in retirement.

You can’t afford not to – and since your contributions aren’t taxed, contributing to your plan could have less of an impact to your take-home pay than you expect. Use the Paycheck Impact Calculator to see how saving will affect your paycheck.

If you’re unsure, you can use our tools and calculators to help decide how much to contribute, what funds to choose and how to use your money when you retire. To see the big picture of how much income is needed in retirement, use the My Income & Retirement PlannerSM.

Yes, you can often combine or consolidate your eligible retirement accounts into one plan. This can make managing your retirement investments easier and potentially reduce administrative costs. Visit the consolidation page to learn more on consolidating your retirement accounts
For a full overview of the plan, review the Plan Document.

Online fee disclosure: Fee disclosure reflects how plan administration and investment costs are assessed on your deferred compensation plan account. Fee disclosure may be accessed by logging into your web account and selecting the link on the left navigation bar.