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What is a 457 deferred compensation plan?

April 26, 2017compensation Deferred Plan

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What is a 457 deferred compensation plan?

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A 457 Deferred Compensation plan is a type of defined contribution plan that is commonly maintained by state and local governments and tax-exempt organizations. Unlike 401(k) plans and 403(b) arrangements, which often incorporate employer funding elements, 457 Deferred Compensation plans are generally funded exclusively by salary deferral contributions.