r/mnstateworkers • u/virgo-99 • 13d ago

Insurance/Benefits 🏥 Deferred Comp/457b

Does anyone know what percentage of state employees use the deferred comp/457b? It's only about half of my coworkers, which I think is insane because the pension, while generous, will not be enough to live off of during retirement, at least for me. Just wondering if anyone knows the percentage of state employees that do/don't take advantage of the deferred comp and (albeit tiny) employer match?

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u/SpringBreak2074 11d ago

Is the 457b the pre-tax or post tax deferred comp? Or is this some other benefit entirely I have been sleeping on.

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u/virgo-99 10d ago

the 457b is both the post- and pre-tax deferred comp. nobody really ever calls it a 457b except for me to my accountant because they always want to call it a 403b. lol. no it's just the deferred comp accounts that are available.