Get the free 457 Deferred Compensation Plan (Annual Contract) - columbusga
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COLUMBUS CONSOLIDATED GOVERNMENT Georgia's First Consolidated Government FINANCE DEPARTMENT PURCHASING DIVISION 100 TENTH STREET, P. O. BOX 1340 COLUMBUS, GEORGIA 319021340 7066534105, FAX 7066534109
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How to fill out 457 deferred compensation plan
How to fill out 457 deferred compensation plan:
01
Gather all necessary documents such as identification, social security number, and employment information.
02
Review your employer's guidelines and requirements for filling out the 457 deferred compensation plan.
03
Complete the enrollment form with accurate personal information, including your name, address, and contact details.
04
Provide your employment information, including your job title, department, and hire date.
05
Choose your contribution amount and the investment options for your deferred compensation plan.
06
Review and understand any matching contributions or employer benefits available.
07
Decide whether you want to make pre-tax or after-tax contributions and indicate your choice on the form.
08
Sign and date the form, ensuring all information is accurate and legible.
09
Submit the completed form to your employer's human resources department or the designated administrator.
Who needs a 457 deferred compensation plan:
01
Employees in governmental organizations, such as state or local governments, or certain tax-exempt organizations with eligible plans.
02
Individuals looking for additional retirement savings options beyond traditional pension plans or 401(k) plans.
03
Those who desire to make additional pre-tax or after-tax contributions towards their retirement savings.
04
Employees who want flexibility in accessing their deferred compensation funds after separation from service.
05
Individuals seeking to take advantage of potentially higher contribution limits compared to other retirement plans.
06
Employees who value the potential tax advantages of a deferred compensation plan.
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