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. Additional information on how this benefit works can be found HERE.
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
Bruce Coughlin, Voya’s account representative, is available to answer your questions about the plan and can help you with your enrollment. If you are already enrolled, Bruce is available to review your account and to make any necessary recommendations to help you reach your retirement goals.
During the pandemic, individual appointments can be set up with Bruce in one of three ways: