Voluntary Retirement Savings - 457(b) Plan

The Town of Wellesley sponsors a 457(b) deferred compensation plan. This plan is designed to provide additional financial security by supplementing your Town of Wellesley pension plan through additional voluntary retirement payroll deductions.  

 Benefits of the plan include:

  • Pre-tax contribution
  • Tax deferred earnings growth
  • Ability to choose from a wide range of mutual fund families
  • An alternative stability of principal account with minimum interest guarantees
  • Withdrawal options for retirement, separation of service, hardship, or death
  • Numerous distribution options are available once a trigging event has occurred, including IRA Rollovers