A 457(b) is similar to a 401(k)/403(b) in how it allows workers to put away money into a special retirement account that provides tax advantages, letting you grow your savings tax-free over time. One key benefit of a 457 though is that it allows you to take distributions before the age of 59.5 if you separate from service/plan to retire early!

MA 457 SMART PLAN | MA Deferred Compensation Plan

The Massachusetts Deferred Compensation SMART Plan is a tax deferred and post tax savings plan that is offered to state employees. The mission of the SMART Plan is to help Massachusetts public employees save and invest for a financially secure retirement.

The SMART Plan’s objectives are:

  • to minimize the administrative and investment management costs to participants;
  • to educate participants about how to invest, so that they can develop an appropriate long-term investment plan;
  • to offer a broad array of quality investment options;
  • to provide accurate, timely, and efficient plan administration, including clear, helpful communication with participants.

View more about the 457(b) plan here. Interested in learning more, or establishing a 457(b) MA Smart Plan with Empower Retirement? Contact Vito DeSimone (401)-439-3715

Nationwide 457 PLAN

Interested in learning more, or establishing a 457 with Nationwide? Contact Judy Santosuosso (617)-840-9901

How to Contribute to a 457(b)

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