The Maryland Supplemental Retirement Plan (MSRP) is a retirement program available to eligible employees in the state of Maryland, providing additional retirement benefits alongside the primary pension plan. MSRP is designed to help employees accumulate savings for their retirement years while enjoying potential tax advantages. One type of MSRP is the 403(b) Plan, primarily designed for employees in the education and non-profit sectors. This plan allows participants to contribute a portion of their salary on a pre-tax basis, reducing their current taxable income. The contributions made to the 403(b) plan are invested in various investment options offered within the plan, such as mutual funds or annuities, enabling participants to grow their retirement savings over time. Additionally, the 457(b) Plan is another type of MSRP, available to eligible employees of state and local governments, as well as certain tax-exempt organizations. This plan also allows for pre-tax contributions, providing participants with an opportunity to save for retirement and potentially lower their taxable income. The contributions made to the 457(b) plan are invested per the participant's selection, allowing for potential growth and accumulation of retirement savings. Both the 403(b) and 457(b) plans offered under the Maryland Supplemental Retirement Plan provide employees with the flexibility to contribute as much as they desire, up to the allowable limits set by the Internal Revenue Service (IRS). Additionally, these plans often offer a range of investment options to suit participants with varying risk appetite and retirement goals. Participation in the Maryland Supplemental Retirement Plan, whether through the 403(b) or 457(b) plan, offers employees the chance to supplement their primary pension benefits and take greater control of their financial future. By taking advantage of the tax advantages and investment opportunities provided by MSRP, employees can strive towards achieving their retirement goals more effectively. Participating in the Maryland Supplemental Retirement Plan is highly encouraged to ensure financial security during retirement and enjoy the potential growth of retirement savings.