Section 457 Plan

Section 457 Plan

Section 457 Plan means:
a deferred-compensation plan established by state and local governments and tax-exempt organizations that allows tax-free deferral of salary up to the lesser of $7,500 or one-third of salary.

Description and Definition of Section 457 Plan

A deferred compensation plan set up by state and local governments and tax exempt organizations that allows tax deferral of salary, generally up to the lesser of $7,500 or one-third of salary.

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