What Is a 403(b)?
A 403(b) is a savings account you build on top of your MPSERS pension — available through your district's payroll, and open to you no matter which MPSERS plan you're in.
💬 GLP Retirement MinuteThe Basics
Offered through your school district, funded by payroll deduction — separate from, and in addition to, your MPSERS pension.
You choose pre-tax (lowers your taxable income now) or Roth (pay tax now, withdrawals are tax-free later).
You choose how it's invested, from the options your district makes available.
Available regardless of your MPSERS plan type — Basic, MIP, Pension Plus, Pension Plus 2, or DC members can all open one.
2026 Contribution Limits
| Limit | Amount |
|---|---|
| Base elective deferral | $24,500 |
| Age 50+ catch-up | +$8,000 |
| Age 60–63 super catch-up | +$11,250 |
They look nearly identical on the surface, but they have separate contribution limits and different withdrawal rules. See What Is a 457(b)? for the comparison — including the fact that you can often contribute toward the max on both in the same year.
See Why Do I Need Savings Beyond My Pension? if you haven't already — it covers the reasoning before this page covers the mechanics.
A 403(b) is a normal, well-established retirement savings tool — not a MPSERS product, but one your district makes available specifically because MPSERS alone doesn't always cover everything. It's optional, and entirely separate from any decision you made in Step 1.