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DESIGNATION OF BENEFICIARY INSTRUCTIONS COMMONWEALTH OF VIRGINIA 457 DEFERRED COMPENSATION PLAN and CASH MATCH PLAN Please provide all the requested information for each designated beneficiary, including
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How to fill out commonwealth of virginia 457

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How to fill out commonwealth of virginia 457:

01
Obtain the necessary form: The commonwealth of virginia 457 form can be obtained from the official website of the Virginia Retirement System or from your employer. Ensure that you have the most up-to-date version of the form.
02
Provide personal information: Fill in your personal details such as your name, address, social security number, and contact information. Make sure to accurately enter all required information.
03
Choose your contribution amount: Decide on the amount you wish to contribute to the commonwealth of virginia 457 plan. This will determine the percentage or fixed amount that will be deducted from your paycheck.
04
Select your investment options: The commonwealth of virginia 457 plan allows participants to choose from a range of investment options. Carefully review the investment options available and select the ones that align with your financial goals and risk tolerance.
05
Designate beneficiaries: Indicate the individuals who will receive your commonwealth of virginia 457 plan benefits in the event of your death. Provide their names, relationship to you, and their contact information.
06
Review and sign the form: Before submitting the form, thoroughly review all the information you have provided to ensure its accuracy. Sign the form and date it as required.
07
Submit the form: Once you have completed all the necessary sections of the commonwealth of virginia 457 form, submit it to your employer or the appropriate department/person responsible for managing the plan.

Who needs commonwealth of virginia 457:

01
Employees of the state of Virginia: The commonwealth of virginia 457 plan is primarily designed for employees of the state government. This includes state agencies, local governments, public schools, and other eligible entities within the state.
02
Public sector employees: Public sector employees, such as police officers, firefighters, and other government workers, are also eligible to participate in the commonwealth of virginia 457 plan. This allows them to save for retirement and enjoy the associated tax benefits.
03
Individuals seeking a retirement savings option: Anyone who wants to save for retirement and take advantage of the potential tax advantages offered by the commonwealth of virginia 457 plan can enroll in the program. It provides an opportunity for individuals to build a nest egg for their future retirement needs.
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Commonwealth of Virginia 457 is a type of retirement savings plan specifically designed for employees of the Commonwealth of Virginia and other eligible government entities.
Employees of the Commonwealth of Virginia and other eligible government entities are required to file Commonwealth of Virginia 457 if they wish to participate in the retirement savings plan.
To fill out Commonwealth of Virginia 457, employees need to enroll in the plan through their employer and designate how much of their salary they would like to contribute to their retirement savings.
The purpose of Commonwealth of Virginia 457 is to help employees of the Commonwealth of Virginia and other eligible government entities save for retirement by offering a tax-advantaged savings plan.
Employees must report how much of their salary they would like to contribute to their retirement savings plan and any investment options they choose within the plan.
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