by Tara Kuther, Ph.D. A master's degree is a type of graduate degree, degree earned after completion of an undergraduate degree (BA or BS). Typically the master's degree requires about 30 credits of coursework and takes 2 years of full time study beyond the bachelor's degree. In addition to coursework, the master's degree sometimes entails completing comprehensive exams and/or a thesis.
flexible benefit plan. Definition. A benefits plan that allows employees to select from a pool of choices, some or all of which may be tax-advantaged. Potential choices include cash, retirement plan contributions, vacation days, and insurance. also called cafeteria plan. Use this term in a sentence.
457(b) Plans. 457(b) plans are deferred compensation plans that allow eligible employees to set aside a portion of their salary on a before-tax basis, for the purpose of saving for retirement. The plans can also accept employer contributions. Similar to other deferred compensation plans, such as 401(k)s and 403(b)s, the 457(b) plan allows participants in public plans to defer federal and (in many cases) state and local income taxes on contributions until these funds are withdrawn.