Louisiana Deferred Comp For Dummies In Massachusetts
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How Does It Work? With the Deferred Compensation Plan, you can set up automatic payroll deposits, adjust your investment allocations at any time, participate for as long as you choose, and access a range of investment options and support.
OBRA is the mandatory employee-funded defined contribution plan for part-time, seasonal, and short-term public employees—this includes many DCE unit members.
My withdrawal may be subject to fees and/or loss of interest based upon my investment options, my length of time in the Plan and other possible considerations. If I have not been advised of the fees and risks associated with my withdrawal, I may contact Service Provider for a withdrawal quote at 1-877-457-1900.
OBRA or the Omnibus Budget Reconciliation Act of 1990 is a Massachusetts state mandated employee-funded 457 deferred compensation plan for part-time, seasonal, and/or short-term public employees.
Louisiana Deferred Compensation Plan (LDCP) is a voluntary retirement savings plan that offers eligible employees the option to contribute pre-tax or post tax (Roth) contributions through payroll deductions.
Certain government pensions, however, are exempt under Massachusetts law. In general, exempt pensions include contributory pensions from the U.S. Government or the Commonwealth of Massachusetts and its political subdivisions, and noncontributory military pensions.
You may voluntarily defer additional income into the 457(b) plan/MA SMART Plan through Empower Retirement up to the IRS limit of $23,500 if you are under 50 years of age, or $31,000 if you are 50 years or older. New for calendar year 2025, if you are aged 60-63, your limit is $34,750.
