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403(b) and 457(b) Retirement Plans

Tax Shelter Annuities

The District offers employees the option to contribute to both 403(b) and 457(b) supplemental retirement plans. These plans are supplemental to your CalPERS or CalSTRS pension and provide employees with an additional way to save for retirement.
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Frequently Asked Questions

403(b) and 457(b) plans are supplemental retirement plans for school and public sector employees. They provide a tax-deferred option to save additional money towards retirement.

Any WVMCCD employee (full-time/part-time or temporary) may choose to contribute to a 403(b) and/or 457(b) plan through payroll deductions.

Currently, there is no employer matching contribution.

View the maximum contribution limits for the current year.

Visit Human Resources to see steps to enroll.

Roth contributions are “post-tax”, meaning that you pay taxes on the contributions now and can take tax-free withdrawals in retirement (given that the account has been held for at least five years and you are age 59 ½). Some of the approved vendors allow for Roth contributions.

In addition to the companies displayed on the vendor listing at altamontclair.org, employees can contribute to the CalPERS 457 plan. This plan functions in the same manner as any other 457(b), but you do not need to enroll or register independently. Instead, complete the CalPERS 457 New Enrollment Form & Beneficiary Form below and return to the Payroll Office or to payroll.servicesFREEWVM

Schedule a one-on-one phone appointment to go over the CalPERS 457 Plan in detail.