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This document is an enrollment agreement for the South Carolina Deferred Compensation Program, allowing participants to enroll in the 401(k) Profit Sharing Plan and/or the 457 Deferred Compensation
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How to fill out South Carolina Deferred Compensation Program Participation Enrollment Agreement/Beneficiary Designation
01
Obtain the South Carolina Deferred Compensation Program Participation Enrollment Agreement/Beneficiary Designation form.
02
Fill in your personal information at the top of the form, including your name, social security number, address, and contact information.
03
Indicate your employment details, including your employer's name and your job title.
04
Select the contribution amount and specify how you would like to allocate your investments.
05
Designate your beneficiaries by providing their names, relationships to you, and contact information.
06
Review the terms and conditions outlined in the agreement.
07
Sign and date the form to affirm your participation and agreement to the terms.
08
Submit the completed form to the appropriate department or financial representative as instructed.
Who needs South Carolina Deferred Compensation Program Participation Enrollment Agreement/Beneficiary Designation?
01
Employees of the state of South Carolina who want to save for retirement through a deferred compensation plan.
02
Individuals seeking to designate beneficiaries for their deferred compensation funds.
03
Anyone interested in supplementing their retirement savings with tax-advantaged options.
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People Also Ask about
What is the South Carolina deferred compensation program?
The South Carolina Deferred Compensation Program (Deferred Comp) is a voluntary retirement savings program that provides participants an opportunity to supplement their retirement savings through its 401(k) and 457 plans.
How many years to be vested in the South Carolina retirement system?
All regular county employees are required to participate in the South Carolina Retirement System unless exempted by law. An employee is vested in the System after eight (8) years of full-time service and may draw an annuity upon eligibility.
What is the 403b plan in South Carolina?
The 403(b) Program is a tax-sheltered annuity plan sponsored by the University of South Carolina and has three providers to meet your individual retirement goals. Note: The 403(b) program currently has a contribution limit up to 85% of the employee's wages.
What is the deferred compensation program in South Carolina?
The South Carolina Deferred Compensation Program (Deferred Comp) is a voluntary retirement savings program that provides participants an opportunity to supplement their retirement savings through its 401(k) and 457 plans.
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What is South Carolina Deferred Compensation Program Participation Enrollment Agreement/Beneficiary Designation?
The South Carolina Deferred Compensation Program Participation Enrollment Agreement/Beneficiary Designation is a document that allows employees to enroll in a deferred compensation plan offered by the state, enabling them to save for retirement and specify beneficiaries for their account.
Who is required to file South Carolina Deferred Compensation Program Participation Enrollment Agreement/Beneficiary Designation?
All employees of the state of South Carolina who wish to participate in the deferred compensation plan are required to complete and file the Participation Enrollment Agreement/Beneficiary Designation.
How to fill out South Carolina Deferred Compensation Program Participation Enrollment Agreement/Beneficiary Designation?
To fill out the Enrollment Agreement/Beneficiary Designation, employees must provide personal information such as name, address, Social Security number, employment details, contributions election, and designate beneficiaries, ensuring all sections are completed accurately.
What is the purpose of South Carolina Deferred Compensation Program Participation Enrollment Agreement/Beneficiary Designation?
The purpose is to facilitate employee participation in the deferred compensation plan, ensuring they can save for retirement while also specifying who will receive the funds in the event of their death.
What information must be reported on South Carolina Deferred Compensation Program Participation Enrollment Agreement/Beneficiary Designation?
The information required includes the participant's personal details, contribution amounts, investment options selected, and naming beneficiaries including their relationship to the participant and contact information.
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