What is a 457(b)? A 457(b) is a tax-deferred retirement savings plan for employees of state and local government agencies, including public school employees. The name refers to the section of the Internal Revenue Code that governs the plan. The 457(b) was created in 1978, and is sometimes referred to as a deferred compensation plan.   next question    back to 457(b) questions view 403(b) questions    view investment questions					403(b) Vendor List 457(b) Vendor List Savings Calculator Savings Distribution Calculator 403(b) Questions 457(b) Questions Investment Questions District Contacts Daryl DiZenzo Payroll/Benefits Accountant 203.594.4016 Mike Lagas Business Manager 203.594.4014 more resources