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The purpose of the Plan is to allow a select group of management and highly-compensated employees to defer receipt of compensation. The Plan is a non-qualified deferred compensation plan under the Internal Revenue Code.
To enroll, your employer must participate in the Plan (employers can visit our Employer Resource Center or call us at (800) 696-3907 to learn more). For more information, visit CalPERS 457 Plan website, call the Plan Information Line at (800) 260-0659, or view the additional resources below.
Hear this out loud PauseA deferred compensation plan withholds a portion of an employee's pay until a specified date, usually retirement. The lump sum owed to an employee in this type of plan is paid out on that date. Examples of deferred compensation plans include pensions, 401(k) retirement plans, and employee stock options. Benefits of Deferred Compensation Plans - Investopedia Investopedia ? ... ? 401(k) Investopedia ? ... ? 401(k)