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Retirement Savings Account Information (403b & 457)

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.
 
2026 calendar year contribution maximums:                                  
Employees under the age of 50: $24,500
Employees over the age of 50: $32,500
Employees age 60 to 63: $35,750