457(b) Retirement Savings Plan

Eligibility and Enrollment Information for the 457(b) Plan

The 457(b) Deferred Compensation Retirement Savings Plan lets you set aside pre-tax dollars to save for retirement. If you are already saving under the FCPS 403(b) Tax-Deferred Retirement Savings Plan, you may save under one or both plans. Full-time and part-time salaried employees of FCPS are eligible to enroll in the plan on their date of hire or any subsequent date during employment with FCPS. Empower is the approved 457(b) plan provider.

Other key aspects of the 457(b) plan:

  • You contribute a percentage of your pay – ensuring that as your salary increases, your savings rate keeps pace.
  • You can move money from one investment to another with no restrictions or charges.
  • You can enroll in a plan and/or change your contribution percentage any day of the month, and your changes will be effective on the 1st of the following month.
  • The 457(b) plan has an administrative fee per participant associated with the plan. The maximum quarterly account fee for EMPOWER is $13.75.
  • The 10% early distribution penalty does not apply to 457(b) plan withdrawals.

Enrollment Steps

Empower is the approved 457(b) plan providers. Follow the instructions below

  1. To enroll, you will need the group ID/plan number and plan enrollment code available here.
  2. From the Empower website, select "About your plan". From there, select "Enroll now" and then "Register". 
  3. Select "I have a Plan Enrollment Code" and follow the prompts using the information provided. 
  4. The website will guide you through the enrollment process. 

You may also contact your local EMPOWER representative to obtain this information and assist with your enrollment. See the Approved 403(b)/457(b) Providers webpage.

457(b) Plan Documents

VRS Hybrid Members

If you are a VRS Hybrid Plan member, you have the additional opportunity to contribute to the Hybrid 457 Deferred Compensation Plan. With this plan, you can receive partial matching contributions from FCPS to your defined contribution account. The more you contribute, the more FCPS will contribute!

Hybrid 457 Plan

Related Pages

403(b) Retirement Savings Plan

Learn more about the FCPS 403(b) plan.
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Supplemental Retirement Savings Plans

Here you will find more information about the 403(b), 457(b), and VRS Hybrid 457 Plans.
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Former Employee Benefits

Here you will find an overview of how your benefit programs will be impacted when you leave employment with FCPS.
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VRS Hybrid 457 Plan

Here you will find more details on the VRS Hybrid 457 Plan, including eligibility and enrollment information.
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Retirement / Tax Deferred Accounts

Learn about retirement plans and tax-deferred accounts including The Educational Employees' Supplementary Retirement System of Fairfax County (ERFC), Virginia Retirement System (VRS), Corebridge Financial, and Empower.
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403(b)/457(b) Comparison Chart

Learn more about the two supplemental retirement plans - 403(b) and 457(b).