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Question

What is the 457(b) Deferred Compensation Plan?

Answer

The 457(b) plan is ideal for high earners who want to save more on a tax-deferred basis. Unlike other retirement accounts, there’s no early withdrawal penalty after separation from service, regardless of age.

Related FAQs

Should I choose Roth or Traditional contributions for my U-M retirement accounts?

Should I contribute to both TIAA and Fidelity or choose one?

How does U-M retirement eligibility work?
Retirement Professions Young Professionals Retirement Planning Higher Education Healthcare & Medicare FAQs
Last Updated May 20, 2026
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