457 planglossary / 457 plan A type of deferred-compensation plan for employees of state and local governments and tax-exempt organizations that operates much like a 401(k) plan, but (except for governmental plans) is unfunded. IRC (26 USCA) § 457. 词条贡献者 双语律师Roger,毕业于一所培养最顶级翻译人才的语言学院,擅长翻译各类与商业秘密咨询与诉讼相关的法律文件。