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Retirement Plans

The 403(b) and 457 contribution limit is $24,500 for the 2026 calendar year.

If you become a regular employee of the district, you are eligible to enroll in 403(b) and 457 plans. We work with Alta Montclair to process forms related to this. Enrollment is optional, and you can change, stop, and resume your contribution at any time. You can have multiple plans; you are not limited to just one.

If you already have an individual retirement account (IRA), that will be separate from the employer-sponsored plans here. For managing employer-sponsored plans, review the information from your chosen vendor in case this function is housed on a separate website.

For more information about Alta Montclair and its services, click here. Alta Montclair can provide advice on how to proceed and which options could work best for your situation.

When you're ready to enroll, you can submit this form to Jesse Darling at jdarling@mpesd.org.

To make edits to your contributions, please submit a Salary Reduction Authorization (SRA) here. If your edit is time-sensitive, submit the SRA as soon as possible. You can refer to the 2025-26 Payroll Schedule for when the best dates are.

What is a 403(b) or 457 plan?

These are types of retirement plans. These accounts can be hosted with a variety of vendors so that you can invest the money you put in with every paycheck. The IRS determines what the annual contribution limit is.

Depending on your needs, you can choose from one of the following options at MPESD:

  • Traditional 403(b)
  • Roth 403(b)
  • Traditional 457

403(b) plans are found in public schools and certain non-profits. 457 plans are found in certain state, government, and non-government entities.

What is the difference between traditional and Roth?

A traditional plan means that the money is deducted from your salary before taxes. When you withdraw from this account at an eligible age, the money (and any growth) will be treated like income, meaning it will be taxed based on your tax bracket in the future.

A Roth plan means that the money is deducted from your salary after taxes. Upon withdrawing from this account at an eligible age, you will not be paying a tax.

There is no "best" plan for everybody. Every individual has unique circumstances. Research before you choose a plan.

What happens if I no longer work at MPESD?

Any accounts made will still exist, but you have multiple options on what to do next. You can either leave the account as is, merge it with an available account with a new employer, or do a rollover. Click here for more information from the IRS regarding rollovers. Consult with Alta Montclair and your vendor in case of any fees you will have to take on for account maintenance.