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What is the difference between the deferred compensation plan 457(b) and a tax sheltered annuity 403(b)?

Both plans are regulated by the Internal Revenue Service and allow employees to set aside a portion of their earnings as tax deferred for retirement. Both plans also offer Roth options. The deferred compensation plan is offered through the State of Illinois ( where limits and more information can be found. The SIUE Supplemental Retirement Plan is a tax deferred (403b) annuity plan and is offered by the university. Approved vendors, limits and more information may be found in the Supplemental Retirement Plan web page at For both plans, employees are able to select various investment strategies and contribute up to the maximum allowable per law.