Deferred Compensation Plans - 457(b)

A 457(b) plan is a type of employer-sponsored, tax-advantaged retirement account available to state and local government employees.

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 2023, you may defer the lesser of $22,500 or 100% of your includible compensation to a 457(b) plan. The plan may also permit catch-up contributions.

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 (


The Lynn Public Schools use the following companies for 457(b) plans:



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

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