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CalPERS is responsible for a deferred compensation retirement plan and two other plans to supplement income after retirement or permanent separation from State employment. As of December 2014: [ 3 ] The CalPERS 457 Plan serves 27,526 participants and had $1.296 billion in assets.
The 457 plan is a type of nonqualified, [1] [2] tax advantaged deferred-compensation retirement plan that is available for governmental and certain nongovernmental employers in the United States. The employer provides the plan and the employee defers compensation into it on a pre tax or after-tax (Roth) basis.
Like its better-known sibling — the 401(k) — a 457(b) retirement plan is a tax-advantaged way to save for retirement. But the 457(b) is designed especially for employees of state and local ...
The Los Angeles County Employees Retirement Association (LACERA) is an independent Los Angeles County agency that administers and manages the retirement fund for the County and outside Districts (Little Lake Cemetery District, Local Agency Formation Commission for the County of Los Angeles, Los Angeles County Office of Education, and South Coast Air Quality Management District). [3]
Your options might include a 401(k) plan or a 457(b) plan. Both plans allow you to contribute money towards retirement on a tax-deferred … Continue reading ->The post 457(b) vs. 401(k) Plans ...
Documentation that some CalPERS members need to make informed decisions during open enrollment is still being finalized, the agency said. CalPERS’ PPO plans are changing administrators in 2025 ...
Deferred compensation is an arrangement in which a portion of an employee's wage is paid out at a later date after which it was earned. Examples of deferred compensation include pensions, retirement plans, and employee stock options.
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