re: How to utilize a 457B plan?

The best strategy is to max it out if you can. You will: save an additional $18k pre-tax per year (on top of whatever you do with your 401/403 option), reduce your overall tax burden, and have the ability to withdraw contributions penalty-free at any time post-separation. Win, win, win

457b plans are gifts from the heavens. I wish I had one. Just watch out for high expense ratios on the funds offered