{"component": "clause", "props": {"groups": [{"snippet": "Participants will need to complete a salary deferral election to begin making voluntary contributions to the 457 Plan. The annual maximum amount of voluntary contributions under the 457 Plan will be set forth in the plan documents and consistent with limitations under the Internal Revenue Code. The Employer will make matching contributions to the DC Plan based on the participants\u2019 voluntary contributions under the 457 Plan, up to the maximum set forth in the table above in paragraph (b).", "snippet_links": [{"key": "salary-deferral-election", "type": "definition", "offset": [37, 61]}, {"key": "contributions-to", "type": "clause", "offset": [88, 104]}, {"key": "maximum-amount", "type": "clause", "offset": [130, 144]}, {"key": "plan-documents", "type": "definition", "offset": [216, 230]}, {"key": "consistent-with", "type": "definition", "offset": [235, 250]}, {"key": "internal-revenue-code", "type": "clause", "offset": [273, 294]}, {"key": "the-employer-will", "type": "clause", "offset": [296, 313]}, {"key": "matching-contributions", "type": "definition", "offset": [319, 341]}, {"key": "dc-plan", "type": "definition", "offset": [349, 356]}, {"key": "based-on", "type": "definition", "offset": [357, 365]}, {"key": "the-participants", "type": "definition", "offset": [366, 382]}], "size": 19, "samples": [{"hash": "cP97Z9Cxyh6", "uri": "/contracts/cP97Z9Cxyh6#457-plan", "label": "Collective Bargaining Agreement", "score": 32.3025894165, "published": true}, {"hash": "1G1JOGuK7M3", "uri": "/contracts/1G1JOGuK7M3#457-plan", "label": "Collective Bargaining Agreement", "score": 30.037065506, "published": true}, {"hash": "hexbuBcXH3F", "uri": "/contracts/hexbuBcXH3F#457-plan", "label": "Collective Bargaining Agreement", "score": 30.0151672363, "published": true}], "hash": "101d4f147b81c9ca10fd0cb6b9013f01", "id": 1}, {"snippet": "The School Corporation agrees to establish a 457(b) plan for voluntary employee contributions.", "snippet_links": [{"key": "school-corporation", "type": "definition", "offset": [4, 22]}, {"key": "to-establish", "type": "definition", "offset": [30, 42]}, {"key": "voluntary-employee-contributions", "type": "clause", "offset": [61, 93]}], "size": 5, "samples": [{"hash": "3XltOh2LqiU", "uri": "/contracts/3XltOh2LqiU#457-plan", "label": "Collective Bargaining Agreement", "score": 34.8647651672, "published": true}, {"hash": "92yf3SmjgpH", "uri": "/contracts/92yf3SmjgpH#457-plan", "label": "Collective Bargaining Agreement", "score": 34.5845336914, "published": true}, {"hash": "a7laJ3cY1aw", "uri": "/contracts/a7laJ3cY1aw#457-plan", "label": "Collective Bargaining Agreement", "score": 34.5833091736, "published": true}], "hash": "5dee1c9ef609b8e557548ed3e5c3fb61", "id": 2}, {"snippet": "Carmel Clay Schools shall provide a salary reduction 457(b) deferred compensation plan for all interested teachers.", "snippet_links": [{"key": "salary-reduction", "type": "clause", "offset": [36, 52]}, {"key": "deferred-compensation-plan", "type": "clause", "offset": [60, 86]}], "size": 4, "samples": [{"hash": "kOeX23p1WV5", "uri": "/contracts/kOeX23p1WV5#457-plan", "label": "Collective Bargaining Agreement", "score": 30.7614536285, "published": true}, {"hash": "19BE7cwo8uT", "uri": "/contracts/19BE7cwo8uT#457-plan", "label": "Collective Bargaining Agreement", "score": 30.7614536285, "published": true}], "hash": "c874aee088b74f4cb1a08a0a6f58ee3d", "id": 3}, {"snippet": "A 457 Plan will be made available to full-time employees commencing with the start of their employment.", "snippet_links": [{"key": "available-to", "type": "definition", "offset": [24, 36]}, {"key": "time-employees", "type": "clause", "offset": [42, 56]}, {"key": "commencing-with-the", "type": "clause", "offset": [57, 76]}], "size": 3, "samples": [{"hash": "8ffjzAWfoMl", "uri": "/contracts/8ffjzAWfoMl#457-plan", "label": "Collective Bargaining Agreement", "score": 33.0591201782, "published": true}, {"hash": "jZr42ZaM1Fs", "uri": "/contracts/jZr42ZaM1Fs#457-plan", "label": "Collective Bargaining Agreement", "score": 30.5078926086, "published": true}, {"hash": "hoNjr6aFKax", "uri": "/contracts/hoNjr6aFKax#457-plan", "label": "Collective Bargaining Agreement", "score": 25.5816478729, "published": true}], "hash": "1efb676b84d753eb29aee3cbe4250822", "id": 4}, {"snippet": "The Board will establish a 457 Plan for, teachers who satisfy the requirement of Article 17, Section E. ARTICLE 42", "snippet_links": [{"key": "the-board", "type": "clause", "offset": [0, 9]}, {"key": "the-requirement", "type": "clause", "offset": [62, 77]}, {"key": "article-17", "type": "definition", "offset": [81, 91]}], "size": 3, "samples": [{"hash": "cloeHctNR0O", "uri": "/contracts/cloeHctNR0O#457-plan", "label": "Professional Services", "score": 28.1253681183, "published": true}, {"hash": "9hxMxiPPzEn", "uri": "/contracts/9hxMxiPPzEn#457-plan", "label": "Professional Agreement", "score": 24.5934295654, "published": true}], "hash": "cae9f46b86685097f3b7c4a22d497757", "id": 5}, {"snippet": "The Alternate Payee will receive the following amount of the Member\u2019s account in an account in the Alternate Payee\u2019s name.\n(a) The Alternate Payee is awarded $ from the Member's account balance as of _ , [insert date] combined with any pro rata earnings or losses on said amount from said date through the date of distribution to the Alternate Payee\u2019s Account.\n(b) The Alternate Payee is awarded _ % of the Member's account balance as of , [insert date] combined with any pro rata earnings or losses on the calculated amount from said date through the date of distribution to the Alternate Payee\u2019s Account.", "snippet_links": [{"key": "alternate-payee", "type": "clause", "offset": [4, 19]}, {"key": "the-member", "type": "clause", "offset": [57, 67]}, {"key": "account-balance", "type": "definition", "offset": [178, 193]}, {"key": "pro-rata", "type": "clause", "offset": [236, 244]}, {"key": "date-of-distribution", "type": "definition", "offset": [306, 326]}, {"key": "calculated-amount", "type": "definition", "offset": [507, 524]}], "size": 3, "samples": [{"hash": "fJUurrA6fsm", "uri": "/contracts/fJUurrA6fsm#457-plan", "label": "Agreement for the Division of Pension Benefits", "score": 22.4976043701, "published": true}], "hash": "10e032ac7401281a1dba93b84ea71406", "id": 6}, {"snippet": "The City will offer to all its full-time employees the option of participating in the 457 Retirement Plan. The employee has the option to have the City contribute its 5% of his/her gross wages and/or the employee can contribute an additional amount as allowed by federal regulations. Enrollment requirements, employee contribution (for the Maine State Retirement System only), city contribution and benefit provisions shall be determined by state statute and/or City Council action.", "snippet_links": [{"key": "the-city-will", "type": "clause", "offset": [0, 13]}, {"key": "time-employees", "type": "clause", "offset": [36, 50]}, {"key": "the-option", "type": "clause", "offset": [51, 61]}, {"key": "participating-in", "type": "definition", "offset": [65, 81]}, {"key": "retirement-plan", "type": "definition", "offset": [90, 105]}, {"key": "employee-has", "type": "clause", "offset": [111, 123]}, {"key": "option-to", "type": "clause", "offset": [128, 137]}, {"key": "gross-wages", "type": "definition", "offset": [181, 192]}, {"key": "additional-amount", "type": "clause", "offset": [231, 248]}, {"key": "federal-regulations", "type": "clause", "offset": [263, 282]}, {"key": "enrollment-requirements", "type": "clause", "offset": [284, 307]}, {"key": "employee-contribution", "type": "clause", "offset": [309, 330]}, {"key": "maine-state-retirement-system", "type": "clause", "offset": [340, 369]}, {"key": "city-contribution", "type": "clause", "offset": [377, 394]}, {"key": "benefit-provisions", "type": "clause", "offset": [399, 417]}, {"key": "state-statute", "type": "definition", "offset": [441, 454]}, {"key": "city-council-action", "type": "clause", "offset": [462, 481]}], "size": 2, "samples": [{"hash": "2Wh2bq6Q7Vk", "uri": "/contracts/2Wh2bq6Q7Vk#457-plan", "label": "Collective Bargaining Agreement", "score": 28.3809585571, "published": true}, {"hash": "iEtlxIdFNU4", "uri": "/contracts/iEtlxIdFNU4#457-plan", "label": "Collective Bargaining Agreement", "score": 23.6913070679, "published": true}], "hash": "a1d358f44b94cf387e81bc5bdb6f8f7f", "id": 7}, {"snippet": "The City provides \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 the opportunity to contribute to an IRS Section 457 deferred compensation plan. \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 may contribute up to the maximum allowed by law. Contributions may come from \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2019\u2587 regular earnings through payroll deductions, or from any unused portion of his Benefits Allowance. The City will match \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2019\u2587 contributions to a deferred compensation account up to a maximum of $200 per month.", "snippet_links": [{"key": "the-opportunity", "type": "clause", "offset": [27, 42]}, {"key": "deferred-compensation-plan", "type": "clause", "offset": [79, 105]}, {"key": "maximum-allowed", "type": "clause", "offset": [141, 156]}, {"key": "regular-earnings", "type": "clause", "offset": [204, 220]}, {"key": "payroll-deductions", "type": "definition", "offset": [229, 247]}, {"key": "unused-portion", "type": "definition", "offset": [261, 275]}, {"key": "benefits-allowance", "type": "clause", "offset": [283, 301]}, {"key": "the-city-will", "type": "clause", "offset": [303, 316]}, {"key": "contributions-to", "type": "clause", "offset": [334, 350]}, {"key": "deferred-compensation-account", "type": "clause", "offset": [353, 382]}, {"key": "per-month", "type": "clause", "offset": [407, 416]}], "size": 2, "samples": [{"hash": "8M4E9wa0iqY", "uri": "/contracts/8M4E9wa0iqY#457-plan", "label": "Employment Agreement", "score": 21.5293289797, "published": true}], "hash": "0bc40430a86771d0a3592d62ff896866", "id": 8}, {"snippet": "Subject to any limitations imposed by law and by the terms of the District\u2019s plan, Employee can participate in the District\u2019s 457 plan. Employee is responsible to ensure that Employee\u2019s contribution and the City\u2019s contribution meet Internal Revenue Code Section 457 deferred compensation program requirements.", "snippet_links": [{"key": "subject-to", "type": "clause", "offset": [0, 10]}, {"key": "limitations-imposed-by-law", "type": "clause", "offset": [15, 41]}, {"key": "of-the-district", "type": "clause", "offset": [59, 74]}, {"key": "participate-in", "type": "definition", "offset": [96, 110]}, {"key": "to-ensure", "type": "clause", "offset": [160, 169]}, {"key": "the-city", "type": "clause", "offset": [203, 211]}, {"key": "program-requirements", "type": "definition", "offset": [288, 308]}], "size": 2, "samples": [{"hash": "9ry6JzcDLc6", "uri": "/contracts/9ry6JzcDLc6#457-plan", "label": "Employment Agreement", "score": 31.7314968109, "published": true}], "hash": "7633f4ca4f812eccd7ce0b32bc68b52f", "id": 9}, {"snippet": "Beginning July 1, 2004 The Ferndale Public Schools will establish an eligible IRC 457(b) Plan to which employees of the district defer compensation on a pre-tax basis and invest the deferred compensation for the purposes of providing retirement income.", "snippet_links": [{"key": "beginning-july", "type": "clause", "offset": [0, 14]}, {"key": "schools-will", "type": "clause", "offset": [43, 55]}, {"key": "an-eligible", "type": "clause", "offset": [66, 77]}, {"key": "of-the-district", "type": "clause", "offset": [113, 128]}, {"key": "tax-basis", "type": "definition", "offset": [157, 166]}, {"key": "for-the-purposes-of", "type": "clause", "offset": [204, 223]}, {"key": "retirement-income", "type": "definition", "offset": [234, 251]}], "size": 2, "samples": [{"hash": "kJcWiicFVZA", "uri": "/contracts/kJcWiicFVZA#457-plan", "label": "Collective Bargaining Agreement", "score": 21.4827919006, "published": true}], "hash": "6374c81b34e886d5469996a8d0c8a4b9", "id": 10}], "next_curs": "ClESS2oVc35sYXdpbnNpZGVyY29udHJhY3Rzci0LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhE0NTctcGxhbiMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"parents": [["retirement-and-retiree-health-care", "Retirement and Retiree Health Care"], ["defined-contribution-retirement-plan-and-457-plan", "Defined Contribution Retirement Plan and 457 Plan"], ["employer-contribution", "Employer Contribution"], ["benefits", "Benefits"], ["retirement-benefits", "RETIREMENT BENEFITS"]], "size": 59, "children": [["school-visitation-leave", "School Visitation Leave"], ["conference-leave-days", "Conference Leave Days"], ["leave-for-civic-duties", "Leave for Civic Duties"], ["compensatory-leave", "Compensatory Leave"], ["court-leave", "Court Leave"]], "title": "457 Plan", "id": "457-plan", "related": [["the-plan", "The Plan", "The Plan"], ["deferral-plan", "Deferral Plan", "Deferral Plan"], ["stock-option-plan", "Stock Option Plan", "Stock Option Plan"], ["125-plan", "125 Plan", "125 Plan"], ["stock-incentive-plan", "Stock Incentive Plan", "Stock Incentive Plan"]], "related_snippets": [], "updated": "2025-07-24T06:48:53+00:00", "also_ask": [], "drafting_tip": "", "explanation": "A 457 Plan clause defines the terms under which an employer offers a tax-advantaged deferred compensation retirement plan to eligible employees, typically in the public sector or certain non-profit organizations. This clause outlines eligibility requirements, contribution limits, and the process for deferring a portion of an employee\u2019s salary into the plan, often specifying how and when funds can be accessed, such as upon retirement or separation from service. Its core function is to provide employees with a structured way to save for retirement on a tax-deferred basis, thereby encouraging long-term financial planning and security."}, "json": true, "cursor": ""}}