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If your new employer sponsors a Section 457(b) eligible deferred compensation plan, you may also transfer all or a portion of your Plan account balance directly to that employer's plan as long as the other plan will accept the transfer.
Your deferred comp plan will work for you whether you're approaching retirement or just getting started investing – putting away money in a tax-deferred account can offer several benefits. See how your investment can potentially grow due to the power of time and compounding .
A 457(b) plan is a tax-deferred retirement savings plan that lets you defer part of your wages and save them for retirement. Learn more here.
Learn more about how the Roth 457 plan option (PDF) works. Also, learn about how to convert your traditional 457(b) account into a Roth 457 (PDF). Get the help you need
Plans eligible under 457(b) allow employees of sponsoring organizations to defer income taxation on retirement savings into future years. Ineligible plans may trigger different tax treatment under IRC 457(f).
The New York City Deferred Compensation Plan (DCP) is a tax-favored retirement savings program available to New York City employees. The Plan is comprised of two programs: a 457 Plan and a 401 (k) Plan. Eligible employees may choose to enroll in either the 457, the 401 (k), or both. There are two different types of contributions that can be ...
State workers and some local government employees can save for retirement through the New York State Deferred Compensation Plan (NYSDCP). The NYSDCP offers traditional pre-tax and Roth 457(b) accounts.
