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403(b) and 457 Plans

403(b) and 457 Plans

It’s never too early to plan for your retirement. There are two voluntary retirement account options: 403(b) and/or the 457.

Both options allow you to put away money on a tax-advantaged basis, and WVMCCD offers you these options to help you reach your retirement goals.

Compare 403(b) and 457

Enrollment Resources

403b and 457 Information and Comparison BrochureCalPERS 457 Enrollment KitCalPERS 457 Personal Phone Review Information

2024 Annual Contribution Limits*

Your investment choices allow for traditional pre-tax contributions and/or post-tax Roth contributions.

Participants 403(b) 457 Total
Under Age 50 $23,000 $23,000 $46,000
Over Age 50 $30,500 $30,500 $61,000

* Contribution limits for the 403(b) and 457 are subject to change annually.

How to Enroll

Follow the steps below listed for each of the plans.

  1. Go to the List of Participating Vendors.
  2. In the drop-down menu, select your employer, West Valley-Mission Community College District.
  3. You’ll see a list of vendors who offer 403(b) plans for WVMCCD. This chart will tell you if the vendor offers a pre-tax plan and/or a Roth plan.
  4. Select a vendor from the options available and set up a 403(b) account.
  5. If you like to further compare vendors, visit 403bcompare.
  6. You may enroll your account directly with the vendor, or through a financial planner or tax consultant.
  7. Go to the payroll section of the District webpage and click on the Forms tab.
  8. Return your completed form to the Payroll Department.

You may enroll in a 457 administered by Alta Montclair or CalPERS Voya.

  1. Go to the List of Participating Vendors.
  2. In the drop-down menu, select your employer, West Valley-Mission Community College District.
  3. You’ll see a list of vendors who offer 403(b) plans for WVMCCD.
  4. Note: You have to scroll down past the 403(b) vendors to find the 457 vendors.
  5. Select a vendor from the options available and set up a 403(b) account.
  6. You may enroll your account directly with the vendor, or through a financial planner or tax consultant.
  7. Contact Payroll for the form to set up a 457 with one of the vendors listed on the Alta Montclair website.
  8. Return your completed form to the Payroll Department.

You may enroll in a 457 administered by Alta Montclair or CalPERS Voya.
  1. Review information about the CalPERS Voya 457.
  2. Go to the Payroll section of hte District webpage and click on the Forms tab.
  3. Complete and return the 457 Plan Enrollment Form and return it to the Payroll Department.