403(b) & 457 Annuities Plans

What is a 403(b)?

A 403(b) plan is a retirement savings plan for employees of public schools, non-profits and certain churches.  With a traditional 403(b) plan your contributions are tax-deferred, meaning you pay taxes on the money when you take it out of the plan. With a Roth 403(b) plan you pay taxes on the contributions up front, but the money grows tax-free.  Don’t forget to consider the impact on your Medicare (IRMAA) taxes when you choose between traditional and Roth accounts.  I can help with these choices.  Please contact me for more information.

What is a 457(b)?

A 457(b) plan is supplemental retirement plan for governmental and certain non-governmental employers. This type of a plan is tax-deferred, which means you pay taxes on the money when you take it out of the account. A 457(b) plan has many flexible features that allow you to save on a tax deferred basis while still having access to your money through loans, and unforeseen emergency distributions if the need arises.

If your employer offers both a 403(b) plan and a 457(b) plan you can maximize your retirement savings by contributing the maximum allowed to both plans. Please contact me for more information.


We do not offer tax or legal advice.  For advice concerning your own situation, please consult with your appropriate professional advisor.