457(b) Deferred Compensation Plans

A 457(b) plan is a type of employer-sponsored, tax-advantaged retirement account available to all municipal and school staff.

You have a separate deferral limit if you’re also eligible to participate in a 457(b) plan. See 457(b) Plan Contribution Limits. It is not combined with your deferrals made to a 403(b) or other plans.

Elective Deferrals

In 2025, $23,500 for those under and $31,000 for those over 50 years old. There is also a special age based catch up for those 60-63 years old of $11,250. Please visit this link from Nationwide 457 which explains it: https://www.nrsforu.com/rsc-preauth/investing/irs-limits/

Catch-up Deferrals

A governmental 457(b) plan may allow age-50 catch-ups of an additional $7,500 in 2023.


You can read more about 457(b) plans here: IRC 457b Deferred Compensation Plans | Internal Revenue Service (irs.gov)


The City of Lynn uses the following companies for 457(b) plans:

AXA Equivest / Equitable

Marc Foley - (781) 237-8230
Email: [email protected]
Schedule Meetings: Marc Foley Calendar

Gabriella Koziol - (781) 237-8294
Email: [email protected]
Schedule Meetings: Gabriella Koziol Calendar

Empower (MA 457)

Ngan Wedemeier - 781-663-1087
Email: [email protected]


Nationwide (NATION)  

Eli Gonzalez, CRES
Senior Retirement Specialist
Email: [email protected] Telephone: 508-250-9796
Schedule Meetings: Click Here For Appointments


Security Benefit (SECBEN)

Brian Thomas, Financial Consultant
CCR Wealth Management – Cetera Advisors
Main Line: 781 496 3900 – Direct Line: 781 519 0461
Email: [email protected]


The City of Lynn uses the following Third-Party Administrator to handle 457(b) plan documents:

TSA Consulting Group, Inc.  (TSACG - City of Lynn)
Attn: Participant Transactions Department
28 Ferry Road SE, Fort Walton Beach, FL 32548
Phone: (888) 796-3786 Ext. 4
Fax: (866) 741-0645