The Commonwealth of Virginia 457 Deferred Compensation Plan (the “Plan”) can help you picture a secure financial future by offering you the opportunity to plan for your retirement. The Plan is available to you as a convenient way to save for retirement. And the sooner you start participating in the Plan, the sooner you begin enjoying the benefits of before-tax savings, a cash match, and tax-deferred growth and compounding.
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Your funds are available to you upon termination of employment. However, while you are an employee, funds are only available in cases of unforeseeable emergency as defined by the Internal Revenue Service (IRS). Review your available resources to determine the amount you are able to contribute to your Plan account while still maintaining an emergency fund outside of the Plan.
To find out more about the features and benefits of the Plan and how it can help you picture your financial future, click on the links below.