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The 457 plan is a type of nonqualified, [1] [2] tax advantaged deferred-compensation retirement plan that is available for governmental and certain nongovernmental employers in the United States. The employer provides the plan and the employee defers compensation into it on a pre tax or after-tax (Roth) basis.
Like its better-known sibling — the 401(k) — a 457(b) retirement plan is a tax-advantaged way to save for retirement. But the 457(b) is designed especially for employees of state and local ...
Deferred compensation is an arrangement in which a portion of an employee's wage is ... A "qualifying" deferred compensation plan is one complying ... and 457(b) (for ...
457(b) Plans. A 457(b) retirement plan is an employer-sponsored deferred compensation plan for employees of state and local government agencies and some tax-exempt organizations.
A health insurance plan for covered retirees was added to the program in 1987. The program is administered by a twelve-member board of trustees, appointed to three-year terms by the Governor subject to confirmation by the Senate, which also administers the Oregon Savings Growth Plan, a voluntary deferred compensation plan established in 1991.
The 457 plan, also through payroll deductions, is a deferred compensation program. Michael McCann, managing director of Empower, which manages the North Carolina plans, provided an upbeat report ...
CalPERS is responsible for a deferred compensation retirement plan and two other plans to supplement income after retirement or permanent separation from State employment. As of December 2014: [ 3 ] The CalPERS 457 Plan serves 27,526 participants and had $1.296 billion in assets.
Section 457 deferred compensation plan accounts. Keep in mind that the FDIC only insures deposit products within these retirement accounts — not stocks, bonds, mutual funds, life insurance ...