A 457(b) plan is a Tax-Deferred Retirement Plan available to employees of state and local governmental agencies, including public school employees. They are similar to 401(k) plans because they allow you to place a percentage of your salary into an employer-sponsored plan that helps you save for retirement. Pre-tax and Roth Contributions are available.

Benefits Include:

• Investment options:  Mutual funds
• Flexibility: start, stop, and adjust your contributions as allowed by your employer’s plan. The minimum contribution is $10 per pay period.
• Receive quarterlyaccount statements
• No 10% federal penalty for early withdrawalof pre-tax assets. Different rules apply to Roth contributions. You must be separated from service in order to withdrawal.

Contribution Limits

• 2023: $22,500
• 2024: $23,000
• Participants aged 50 and older at any time during the calendar year are permitted to contribute an additional $7,500.

All investing involves risk. Past performance is not a guarantee of future returns.