Coronavirus Disease 2019 (COVID-19) Information and Resources

Coronavirus Disease 2019 (COVID-19) Information and Resources

457 Deferred Compensation – SMART Plan

The 457 Deferred Compensation Plan allows Commonwealth of Massachusetts' employees to set aside a portion of earnings through a payroll deduction as an investment for retirement. The maximum contributions are defined by the IRS according to specific guidelines, including additional contributions if the individual is age 50 or older. The amounts contributed to the deferred compensation plan may be made either before taxes are applied to the participant’s salary or after taxes have been applied.

The Office of the State Treasurer manages the Commonwealth's 457 Deferred Compensation SMART Plan. Additional information may be found here.

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