Magnolia Independent School District

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Payroll & Benefits » Section 457

Section 457

This is a district sponsored voluntary retirement savings plan that allows an employee to save money for retirement on a tax-deferred basis.  If you are age 50 or older, you may contribute up to $22,500.00 per year.  If you are under age 50, you can contribute $17,000.00.

The options for enrollment are:  Industrial Alliance Pacific (IAP) 457 or JEM Platform 457. You may enroll online at www.theretirementsolutiononline.com or call Paragon Benefits at 281-286-3570.