| Once you are familiar with the 457(b) basics, frequently asked questions and investment information, here are the steps to take to start a 403(b). |
| Read through this site and other resources. |
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| Research available vendors and product costs to find a vendor that provides the investment options and services that meet your needs at a cost you understand. To do this, read contracts of fixed annuity products and prospectuses of variable annuity and mutual fund products. |
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| Open an account with your chosen vendor. |
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| Select investments and name a beneficiary or beneficiaries. |
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| Complete a Salary Deferral Agreement with your employer in which you determine the amount you wish to contribute to your 457(b) each pay period. |
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| Transferring 457(b) Money From Another Employer |
| This is permitted, but individual employers may not make this option available. Check with your employer for details. |
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