ECU Health offers eligible team members the opportunity to participate in a 457(b) Deferred Compensation Plan. This plan allows you to set aside retirement savings on a pretax basis and provides tax-efficient growth of your retirement savings.
The 2023 IRS contribution limit is $22,500. If you are over age 50, you can invest an additional $7,500 through the catchup provision. Pretax contributions to your 457(b) are deducted from your paycheck, which lowers your overall tax burden today. At retirement, you will pay income taxes on the withdrawals.
If you are enrolled in the plan and need additional assistance, call 252-816-7446 or visit AskPhin.com.