Tax Sheltered Annuity 403(b) and Deferred Compensation Plan 457(b)
A 403(b) Tax Sheltered Annuity (TSA) and 457(b) Deferred Compensation Plan are qualified retirement savings programs available exclusively to employees of public school systems, community colleges, universities, and certain other nonprofit organizations.
Eligible employees may voluntarily enroll in a 403(b) and/or 457(b) plan and contribute a portion of their salary through convenient payroll deduction. Contributions are made on a pre-tax basis, which may reduce current taxable income. These plans are designed for long-term retirement savings, and early withdrawals may be subject to IRS penalties and applicable taxes.
Employees who wish to participate may select from a list of authorized providers available at their worksite. Please note that the approved provider list does not constitute an endorsement of any company, nor does it reflect an evaluation of the financial strength, product quality, or services offered.
To establish a 403(b) Tax Sheltered Annuity or 457(b) Deferred Compensation Plan, employees should contact a representative listed under their chosen provider. The representative will assist with completing the necessary enrollment paperwork to initiate payroll deductions.
To view the current listing of approved 403(b) providers, please click the link below.
Approved Tax Sheltered Annuity Vendor Agents
2026 Meaningful Notice-Plan Summary
2026 Annual Retirement Benefits Guide MCPS
403(b) vs. 457(b) Plan Comparison