457(b) plans
Prepare for a comfortable retirement with a 457(b) plan
A 457(b) deferred compensation plan, which is like a 401(k) for public service employees, can help supplement your pension. It’s specifically designed for those who work for the state or local government, has the flexibility to adjust as your needs change and can help you turn your salary into a more comfortable retirement.
Your pension and 457(b) plan work together
How can a 457(b) deferred compensation plan help you save?
- Every dollar counts – Start saving whatever amount works for you, start or stop, decrease or increase your contributions up to the federal maximum, at any time.
- It’s automatic – You pay yourself first, because your savings are deducted right from your paycheck.
- It’s flexible – Select the investments you’re most comfortable with – and change them when you want.
- You won’t pay taxes while you’re saving – Your contributions into the 457(b) plan are deducted from your salary before income taxes, meaning that taxes are deferred until you withdraw the money from your account, which is typically when you’re retired and often in a lower tax bracket. That means all of your earnings stay invested, letting your money grow faster than it would in a taxable account.
Do you have a retirement plan through work?
Evaluate your retirement income potential using our retirement calculator. Make adjustments and add in other savings to see how changes affect your goals.
Employees in the public sector trust Equitable
We know public service employees have unique needs. You spend your time making our communities better every day. We want to help you make your retirement better too.
Since 1859, Equitable has helped people build and secure their financial futures. Our 457(b) plan is designed to meet the specific needs of public service professionals. That’s just one reason why we are the #1 choice for educators in K-12 schools1 and a top choice for many other public service employees across the country. We’ve won the DALBAR Service Award for outstanding customer service seven years in a row2 (2011-2017).
1 LIMRA, Not-For-Profit Survey, Q4 2017 results based on 403(b) participants and contributions.
2 Source: http://www.dalbar.com/Awards/ServiceAwardWinners
All ratings and reviews are voluntarily submitted by existing customers and are pre-screened for acceptance or rejection prior to publication in accordance with established Moderation Guidelines, which consider applicable regulatory parameters for retail communications (i.e., advertising and sales literature) and company standards for appropriate content. Customers' ratings and reviews reflect individual opinions and are not intended as indications of suitability or as predictions of any product/investment performance, may not represent the experience of any other customer, and should not be relied upon as bases for any purchase decision. NOTE: On June 15, 2020, AXA Equitable Life Insurance Company became Equitable Financial Life Insurance Company. Any reviews herein containing “AXA” in any form should be considered to mean “Equitable”. Equitable is the brand name of the retirement and protection subsidiaries of Equitable Holdings, Inc. Equitable Financial Life Insurance Company (Equitable Financial) and its affiliates do not guarantee the accuracy or applicability of the information included in any customer review. Ratings and Reviews are powered by Bazaarvoice, a 3rd party vendor not affiliated with Equitable Financial or its affiliates. For questions or concerns about the ratings and reviews presented here, please call 800-628-6673.
This discussion is not intended as legal or tax advice. Accordingly, any advice provided herein is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. Such advice was written to support the promotion or marketing of the transaction(s) or matter(s) addressed, and you should seek advice based on your particular circumstances from an independent tax advisor.
Variable annuities and mutual funds are offered by prospectus, which contains more complete information, including investment objectives, risks, charges, and expenses, and which can be made available from your Financial Professional of the company. Please read the prospectus carefully before you invest or send any money.
An annuity contract used to fund this qualified employer-sponsored retirement arrangement should be purchased for its features and benefits other than tax deferral. For such cases, tax deferral is not an additional benefit of the annuity. You may also want to consider the relative features, benefits and costs of this annuity with any other investment that you may have in connection with your retirement plan or arrangement.
Equitable believes that education is a key step toward addressing your financial goals, and we've designed this discussion to serve simply as an informational and educational resource; it does not offer or constitute investment advice and makes no direct or indirect recommendation of any particular product or of the appropriateness of any particular investment-related option. Your needs, goals, and circumstances are unique, and they require the individualized attention of your financial professional. But for now, take some time just to learn more.
Annuities issued by Equitable Financial Life Insurance Company (NY, NY) and co-distributed by affiliates Equitable Advisors, LLC and Equitable Distributors, LLC, New York, NY 10105. The investments in this program are subject to investment risks, including possible loss of the principal invested. They are not insured by the Federal Deposit Insurance Corporation nor are they deposits to, obligations of, or guaranteed by any bank.
Equitable Financial Life Insurance Company (Equitable Financial), Equitable Advisors, LLC (member FINRA, SIPC) and Equitable Distributors, LLC (member FINRA, SIPC) are affiliated companies, located at 1345 Avenue of the Americas, New York, NY 10105, (212) 554-1234. Equitable and its affiliates do not provide tax, accounting or legal advice or services.
