An Escape Hatch From Your Costly 403(b) or 457(b) The Covid-19 pandemic has created an opportunity for teachers (and school employees) to potentially lower the costs in their 403(b) and 457(b) by significant margins, this escape hatch will only work in 2020. While we welcome the opportunity, we wish it didn’t take a pandemic and we would trade this opportunity in a split-second to have not ever have heard the term coronavirus.