457 Deferred Compensation Plan
A 457 deferred compensation plan is a retirement plan that allows you to make contributions into an account established on your behalf. Your contributions are made on a before-tax basis, and all earnings are tax-deferred. The amounts accumulated on your behalf may be distributed at retirement or due to another qualifying event, such as separation from service or death.
Framingham Public Schools allows its employees to contribute to a 457 plan of their choosing.