• 457 Deferred Compensation Plans

    A 457 Plan is a Tax Deferred Retirement Plan available to all eligible district 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 you made until you withdraw the money.

    Benefits include:

    • Investment options: fixed annuities, variable annuities or mutual funds
    • Flexibility: start, stop and adjust your contributions amounts as allowed und your employer’s plan
    • At early retirement or severance of service from your employer, distribution can be made without the 10% IRS penalty tax, usually

    For information, contact your benefits office.


    Contact Information:

    Region 10 RAMS  800-943-9179

    www.region10rams.org

    Plan Information:

    457(b) Retirement Plan Brochure

    403(b) Retirement Plan Brochure

     

    403(b) Tax Deferred Annuities

    A 403(b) is a Tax Deferred Retirement Plan. 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 You will not have to pay taxes on your contributions or earnings made until the money is withdrawn.

    Benefits Include:

    • Tax deferred growth: no annual taxation on earnings
    • Investment options: fixed annuities, variable annuities or mutual funds
    • Competitive interest rates
    • Flexibility: start, stop, and adjust your contributions as needed throughout the year
    • Financial hardship withdrawals and loans may be available

    To participate in a 403(b) you must contact an agent/representative and select a District-approved company and complete the required paperwork.  For information, contact your EISD Benefits Department.