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457 PLAN
Deferred Compensation Plan

 

Generally restricted for employees of a State, its political subdivisions, agencies or instrumentaltities and certain tax-exempt organizations

Employees may voluntarily defer compensation on a pre-tax basis

In a public employer plan, assets are held in a tax-exsmpt trust for exclusive benefits of the employee

Withdrawals allowed in event of an unforeseeable emergency, otherwise similar to 403(b)

Employees bear investment risk

Assets are held in tax-exempt trust and invested by Trustees in stocks, bonds, and short-term cash management