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THE COMMONWEALTH OF MASSACHUSETTS 457 DEFERRED COMPENSATION PLAN / BRA INFORMATION SHEET Basic Facts about BRA and the Deferred Compensation Plan As a part-time, seasonal or temporary employee of
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What is 457 deferred compensation plan?
A 457 deferred compensation plan is a retirement savings plan offered to certain employees of state and local governments, as well as tax-exempt organizations.
Who is required to file 457 deferred compensation plan?
Employees eligible for a 457 deferred compensation plan are required to file it in order to save for retirement.
How to fill out 457 deferred compensation plan?
To fill out a 457 deferred compensation plan, employees typically need to work with their employer's HR department or retirement plan administrator.
What is the purpose of 457 deferred compensation plan?
The purpose of a 457 deferred compensation plan is to allow employees to save for retirement in a tax-advantaged way.
What information must be reported on 457 deferred compensation plan?
Information such as salary deferral amounts, investment choices, and beneficiary designations must be reported on a 457 deferred compensation plan.
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