What does Section 457 Plans mean? Read on to discover the definition & meaning of the term Section 457 Plans - to help you better understand the language used in insurance policies.
Section 457 Plans
Deferred compensation plans for employees of state and local governments in which amounts deferred will not be included in gross income until they are actually received or made available.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Section 457 Plans. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: