457 Deferred Compensation Plan Limits 2024 Calculator. The 457(b) deferred compensation plan is one piece of your retirement program designed to supplement your retirement savings. A 457 plan can be one of your best tools for creating a secure retirement.

A 457 plan can be one of your best tools for creating a secure retirement. If your goal is to contribute the standard 457(b) maximum, you would need to contribute $884 per biweekly paycheck ($23,000 for the calendar year).