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)
- Contact Vito DeSimone from Empower Retirement to enroll.
- Update future contributions at Mass-smart.empower-retirement.com
- Contact Judy Santosuosso (617)-840-9901