457 Plans
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Deferred Compensation Plan
  • Generally restricted for employees of a state, its political subdivisions, agencies or instrumentalities and certain tax-exempt organizations
  • Employees may elect to contribute by payroll deduction on a pre-tax basis or after tax
  • Assets are held in a tax-exempt trust for exclusive benefits of the employee by Charles Schwab
  • Withdrawals allowed in event of an unforeseeable emergency or hardship withdrawals
  • Employees bear investment risk
  • Employer may match employee contributions but not required

Contact:

Lea Anne Porter, vice president, retirement plans, 512/465-1544