The state offers a monthly pretax match benefit of $1.00 for every $1.00 you contribute to the 457 plan (pretax or post-tax), up to the maximum match amount of $75/month (Legislators excluded).

Match contributions

Employer match contributions are deposited into your selection of investments in your 401(a) match plan. This match does not reduce the 457 annual maximum contribution limit.

Don't turn away the match money!

In order to receive the full $75 match each month, you must contribute $75 to the 457 through payroll deduction. If you contribute less than $75/month to the 457 plan, you will still get a match contribution on the amount you deducted. The employer match contribution is deposited to your 401(a) match account. There are no vesting requirements.

There is no provision to "make up" for missed match contributions unless you are on a qualifying military leave. If you do not make your own contribution to the 457 plan (through payroll deduction), you will not receive the match that month.

Match distributions

Upon separation of employment, cash payments taken from the 401a account are taxed as ordinary income and may be subject to an IRS 10% penalty prior to age 59 1/2. See distributions for former employees for more information.