Proposed designs go under the heading of 'closed fuel cycle reactors' generally a "fast" reactor (which is using its gamma flux to create new fuel) a reprocessing plant, and the power reactor(s). Such a facility runs "forever" with no radioactive or chemically active byproducts leaving the facility.
Even closed cycle systems generate low level radioactive 'waste' in the sense that things get activated by exposure to radiation. Traditional incineration, like these guys (http://www.nukemgroup.com/fileadmin/pdf/Brochure_Incineratio...) propose, reduces bulk and chemical reactivity, using ionizing radiation from a gamma source (another small reactor like the TRIGA) can move the radioactive byproducts along their decay cycle into short lived isotopes and then inertness.
Even closed cycle systems generate low level radioactive 'waste' in the sense that things get activated by exposure to radiation. Traditional incineration, like these guys (http://www.nukemgroup.com/fileadmin/pdf/Brochure_Incineratio...) propose, reduces bulk and chemical reactivity, using ionizing radiation from a gamma source (another small reactor like the TRIGA) can move the radioactive byproducts along their decay cycle into short lived isotopes and then inertness.