Government Retirement Plans
Retirement Plans for Governmental Employers
State and local governments may establish Section 457(b) plans. These employee retirement plans allow government employees to:
Save automatically through payroll deduction
Defer current federal and state income tax
Choose how their contributions are invested
Along with pensions and social security, the 457(b) plan may provide an opportunity for government employees to achieve financial security in retirement.
Although similar to plans covering private employers, governmental 457(b) plans have unique features. Our firm assists county and city governments in establishing and operating 457(b) plans for their employees.
457(b) Plan Summary Fact Sheet