Retirement Savings Account Information

  • Benefit eligible Newton Public School employees can participate in the 403(b) Tax-Deferred Plan AND the City of Newton’s 457 Deferred Compensation Plan. You can choose to enroll in either one or both at the same time. This allows you to save even more money on a tax-deferred basis. By deferring compensation, you have the opportunity to lower your current income taxes and enjoy the advantage of tax-deferred compounding.

    2024 calendar year contribution maximums:                                  
    Employees under the age of 50: $23,000
    Employees over the age of 50: $30,500
     

      403(b) Information

      457 Account Information

      • Approved Providers

      • To enroll in a Voya 457 plan online

      • To enroll in or make a change to a 457 account using a form

      Retirement Savings Account Forms