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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 $15,500 (2007), $20,500 (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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Neither Woodbury Financial Services, Inc., nor its registered representatives or employees, 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.
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Securities and Investment Advisory Services offered through Woodbury Financial Services, Inc.,
Member FINRA, SIPC, and Registered Investment Advisor - Licensed in MO, IL, CA, NY
*** 111 West Port Plaza Drive Suite 300 Saint Louis, MO. 63146 ***
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