Participating in the Massachusetts Deferred Compensation SMART Plan may help provide a more comfortable and secure financial future. The Plan is established under the Internal Revenue Code Section 457, which allows eligible employees to save and invest before-tax or Roth 457 contributions through salary deferrals.

The SMART Plan is a voluntary retirement savings program. Take advantage of this valuable employee benefit!

The Benefits of Saving for Retirement

There are numerous benefits to begin saving for your retirement now. For starters, it may help make a better retirement future a reality. You can also benefit from:

Convenience – Contributions are taken out of your paycheck automatically, so you don't have to worry about transferring money toward your retirement yourself.

Contributions – Saving with before-tax contributions lowers your current taxable income. You also have the option to contribute after-tax Roth dollars to your plan.

Compounding – The money you put away for retirement, and any earnings, have the opportunity to grow over time – tax-deferred – until you take distributions in retirement.

Competitive Investment Options – The SMART Plan offers participants two paths to investing, so you can choose the level of involvement that is right for you. Choose the path that includes the SMARTPath Retirement Funds or the path that allows you to Build and Monitor Your Own Portfolio, which includes a variety of diversified, professionally managed investment options with competitive fees.

Advice – The Empower Advisory Services suite of services offered by Empower Advisory Group, LLC, a registered investment adviser, offers personalized retirement strategies to help you meet your retirement income goals. Advisory Services uses a behavior-based approach to investing that utilizes investment advisory tools and services based upon the level of involvement you desire in managing your investments. You can choose as much or as little help as you need. Learn more today. There is no guarantee that participation in Advisory Services will result in a profit or that your account will outperform a self-managed portfolio.

What is SMART Plan?

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Plan Highlights

Town Pension Eligible/Full Time Town Employees

Click here to set up an account and  enroll online!

OBRA/Part Time Town Employees

 Please complete an enrollment form and return to Human Resources, Town Hall, benefits@wellesleyma.gov, fax 781-489-4282

Contact Your Advisor

Aiman Janineh  Aiman.Janineh@empower-retirement.com   877-457-1900

Schedule an Appointment

 You can also speak with a representative who can answer your questions by calling the SMART Plan Service Center at 877-457-1900 Monday through Friday, from 8 a.m. to 10 p.m. and Saturday, from 9 a.m. to 5:30 p.m. Eastern time.