457(b) Plans

A 457(b) is a deferred compensation plan available to employees of city, county and state government entities; as well as public schools and colleges. It allows employees to make pre-tax salary deferrals of up to $16,500 (2011), $22,000 (if age 50 or older) or 100% of compensation, whichever is less.

457(b)plans allow employees to save for retirement while reducing their taxable income. A 457(b) plan helps employees supplement their state pension plans. This plan can be sponsored by city, county and state governments; as well as public college and universities. Federal government entities are not eligible to sponsor 457(b) plans.

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The employees of Warren Wealth Management do not provide tax or legal advice. As with all matters of a tax or legal nature, you should consult with your tax or legal counsel for advice.

Investment Types

For Individuals:


529 Plans
Annuities
Coverdell ESA
Life Insurance
Roth IRA
Traditional IRA

For Businesses:


401(k) Plans
403(b) Plans
457(b) Plans
Money Purchase Plans
Profit Sharing
SEP IRA
SIMPLE IRA