A 457b plan is a supplemental retirement plan for employees who meet eligibility criteria. Typically, if your employer is a governmental entity, state or local law will determine who is eligible to participate. If your employer is a tax-exempt organization, only highly compensated employees and select management may participate in the plan.
Key Features of a 457b Plan
Not much different than a 401 (k); the 457b provides you with the ability to save for retirement.
Features unique to a 457b plan to consider: