Can you withdraw from Ma smart plan?
You can withdraw less than 100% of your SMART Plan balance as a partial lump-sum payment after severance of employment and then also elect a periodic payment option for the remaining balance. This option allows you to keep your remaining balance in the investment options available under the SMART Plan.
What type of plan is the mass smart plan?
retirement savings program
What is a smart plan account?
The SMART Plan is a retirement savings program authorized under section 457 of the Internal Revenue Code (IRC). Section 457 programs, commonly called 457 deferred compensation programs, allow eligible employees to save and invest before-tax and after-tax dollars through salary deferrals.
What is Massachusetts deferred compensation smart plan mandatory Obra?
In Massachusetts, it is called the SMART Plan and is a 457b savings plan that automatically deposits 7.5% of pre-tax DCE earnings into the DCE member's interest-bearing OBRA account. It also requires a small annual service fee, which as of December 2011 it is $18.48 a year, charged monthly.