A 457(b) deferred compensation plan is a retirement plan offered by your employer, created to allow public employees like you to put aside money from each paycheck toward retirement. A deferred comp plan can help bridge the gap between what you have in your pension and Social Security, and how much you'll need in retirement.

Frequently asked questions
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A 457(b) plan allows for penalty-free withdrawals once you stop working for your public sector employer, even if you are under age 59½. This is a unique benefit compared to other retirement plans, which typically impose a 10% early withdrawal penalty tax for withdrawals prior to age 59½.
Tax-deferred, also known as pre-tax, means you don't pay income taxes on your plan contributions or earnings until you withdraw the money, typically in retirement. This can lower your taxable income now and potentially in retirement.
Contribution limits vary by plan type and are subject to IRS regulations. Check out the current contribution limits.
Yes, you can often combine or consolidate your eligible retirement accounts into one plan. This can make managing your retirement investments easier and potentially reduce administrative costs. Visit the consolidation page to learn more on consolidating your retirement accounts

Neither Nationwide nor its representatives may offer investment, tax or legal advice. You should consult your own counsel before making decisions about Plan participation.