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
- Receive periodic account statements
- No 10% federal penalty on interest or earnings for early withdrawal
Contribution Limits:
- Participants may contribute up to $20,500 for year 2022.
- Participants age 50 and older at any time during the calendar year are permitted to contribute an additional $6,500 in 2022, for a total of $27,000.
All investing involves risk. Past performance is not a guarantee of future returns.
MissionSquare Retirement
Sallie Harborth
Retirement Plans Specialist
Work: (202) 759-7098
Cell: (202) 253-7691
Email: sharborth@missionsq.org
Web: www.missionsq.org
CLICK HERE TO SCHEDULE A ONE ON ONE ACCOUNT REVIEW WITH SALLIE.