Related Resources

457 Forms & Information

Guides, Disclosure and Salary Reduction Agreements

457 Withdrawal Restrictions

You may only make withdrawals under certain circumstances outside of retirement under tax law.

457 FAQs

Answers to common questions to 457 Plans

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Invest in
your retirement

457(b) Retirement Plan

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 401k plans because they allow you to place a percentage of your salary into an employer-sponsored plan that helps you save for retirement. You will not have to pay taxes on what you contribute or earnings made until you withdraw the money.

Benefits include:

  • Investment options: fixed annuities, variable annuities, or mutual funds
  • Flexibility: start, stop, and adjust your contributions as allowed by your employer's plan
  • Receive periodic account statements
  • There's no 10% federal penalty on interest or earnings for early withdrawal
  • There's no current federal income taxes on the money you put into the plan until it is time to take withdrawals


Interested in a 457(b) Retirement Plan?

Ask about benefits through First Financial where you work.