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This form is used by eligible NYU employees to enroll in the NYU Retirement Plan, specify salary reduction contributions, and select investment options.
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How to fill out NYU Retirement Plan Salary Reduction Agreement and Investment Selection Form

01
Obtain the NYU Retirement Plan Salary Reduction Agreement and Investment Selection Form from the NYU HR website or office.
02
Read the instructions carefully at the top of the form.
03
Fill in your personal information, including your name, employee ID, and department.
04
Determine the percentage or dollar amount of your salary that you wish to contribute to the retirement plan.
05
Select your preferred investment options from the available choices listed on the form.
06
Review your selections to ensure accuracy.
07
Sign and date the form to confirm your choices.
08
Submit the completed form to your HR representative or through the specified electronic method.

Who needs NYU Retirement Plan Salary Reduction Agreement and Investment Selection Form?

01
All NYU employees who wish to participate in the retirement savings plan and modify their salary reduction contributions.
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People Also Ask about

Pros and cons of a 403(b) ProsCons Tax advantages Few investment choices High contribution limits High fees Employer matching Penalties on early withdrawals Shorter vesting schedules Not always subject to ERISA1 more row • Nov 25, 2024
Under salary reduction agreements, an employee can take advantage of tax deferral. through 401(k) or 403(b) plans or by receiving tax-free benefits through a cafeteria plan. Under 401(k) and 403(b) plans, amounts reducing salary are invested in selected. investments or annuities for future retirement.
The Plan is a “defined contribution” plan, which means that the Plan's legal document specifies how much you can contribute (within applicable IRS limits). You make contributions to the Plan through salary deferrals.
But beware: While a terrific savings vehicle, 403(b)s have some drawbacks. 403(b)s have a narrower range of investments than 401(k)s, and many plans over-emphasize, or even prioritize, annuities as the primary investment option.
A 403(b) plan may allow: Elective deferrals - employee contributions made under a salary reduction agreement. The agreement allows an employer to withhold money from an employee's salary and deposit it into a 403(b) account.
An eligible deferred compensation plan under IRC Section 457(b) is an agreement or arrangement (which may be an individual employment agreement) under which the payment of compensation is deferred (whether by salary reduction or by nonelective employer contribution).

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The NYU Retirement Plan Salary Reduction Agreement and Investment Selection Form is a document that allows employees of New York University to designate a portion of their salary to be contributed to their retirement plan on a pre-tax basis, as well as to select investment options for those contributions.
Employees who wish to participate in the NYU Retirement Plan and make salary reductions for retirement contributions are required to file the NYU Retirement Plan Salary Reduction Agreement and Investment Selection Form.
To fill out the NYU Retirement Plan Salary Reduction Agreement and Investment Selection Form, employees should enter their personal information, specify the percentage or dollar amount of salary they wish to contribute, and select their preferred investment options from available choices. It is important to review the form for accuracy before submission.
The purpose of the NYU Retirement Plan Salary Reduction Agreement and Investment Selection Form is to facilitate employees in saving for retirement through salary reductions while allowing them to choose how their contributions will be invested, thereby enhancing their readiness for retirement.
The NYU Retirement Plan Salary Reduction Agreement and Investment Selection Form must report the employee's name, employee ID, contribution percentage or amount, selected investment options, and any other relevant personal and employment details required by the form.
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