A 457(b) Deferred Compensation Retirement Plan is a tax-deferred plan that offers you an additional opportunity to save more money for retirement and pay less in taxes now.
When you elect to participate, a portion of your salary is set aside – on a pre-tax basis – to save toward supplementing your main retirement plan and Social Security.
This plan is available to all state employees who are eligible for benefits. A minimum contribution of $25.00 per pay period is required for non-classified employees or $10.00 if you are a state classified employee.
A packet of information on the Valic Retirement, Fidelity, ING, and TIAA plans is available from Heather Nayman at 874-4618.
Providers to Choose From:
457 Authorization Form for Non Classified Employees
457 Authorization Form for Classified Employees