457(b) Deferred Compensation
457(b) Plan Overview
The Wyoming Retirement System (WRS) 457(b) Deferred Compensation Plan is a tax-advantaged retirement savings tool designed specifically for Wyoming Public Employees. This voluntary program allows employees to set aside money to supplement their income during retirement.
The WRS 457(b) Plan is a powerful savings tool. Once a participant of the plan, you don’t have to do anything else. Money is taken out of your pay automatically and placed into your 457 account.
Contributions & Enrollment
The 457(b) Plan is similar to a 401(k), but it is tailored for public employees. Enrolled employees elect to contribute a portion of their pay, which is automatically deducted on either a tax-deferred or a post-tax (Roth) basis. The employee determines their preferred contribution option.
Participants are always 100% vested in their deferred compensation account. Employees may start, stop, increase, or decrease their contributions at any time.
Monthly Public Employee New Hire Onboarding
The Wyoming Retirement System offers New Hire Onboarding Training virtually on the first Tuesday of each month at 10 a.m. on Zoom. In this meeting, one of the WRS educators will provide basic information about the Public Employee Pension Plan and the 457 Deferred Compensation Plan.
Online 457(b) Account
Access your Online Account to manage beneficiaries, update contact information, view account details, and more!
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