Get the free 403(b) and 457(b) Enrollment Guide - University System of Georgia

PLANEnroll today. Enjoy tomorrow. 403×b) and 457×b) Retirement Plans s a vi NG : i n v e s ting : PLA NNI pay yourself first. Contribute automatically by convenient payroll reduction. Voluntary

How to fill out 403b and 457b enrollment

How to fill out 403b and 457b enrollment:

1. Gather necessary information: Before starting the enrollment process, make sure you have all the required information at hand. This typically includes your personal details, such as name, address, date of birth, and social security number. You may also need to provide information about your employment status and income.
2. Review plan documents: Familiarize yourself with the plan documents provided by your employer or plan sponsor. These documents outline the specific rules, investment options, and contribution limits associated with the 403b and 457b plans. Understanding these details will help you make informed decisions during the enrollment process.
3. Choose your contributions: Decide how much you want to contribute to your 403b and 457b plans. These plans often have annual contribution limits set by the IRS, so ensure your desired contributions fall within those limits. Additionally, consider any employer matching contributions or other benefits that may be available to you.
4. Select investment options: Most 403b and 457b plans offer a range of investment options, such as mutual funds or annuities. Take the time to review these options and select the investments that align with your financial goals and risk tolerance. If you're unsure, consult a financial advisor for guidance.
5. Complete enrollment forms: Your employer will provide you with enrollment forms for the 403b and 457b plans. Fill out these forms accurately, providing the required information and specifying your contribution amounts and investment choices. Be sure to sign and date the forms before submitting them to your employer.
6. Ask for assistance: If you have any questions during the enrollment process, don't hesitate to reach out to your employer's human resources department or plan administrator. They can provide clarification on any confusing aspects, ensuring you complete the enrollment process correctly.

Who needs 403b and 457b enrollment?

403b and 457b enrollments are primarily catered towards specific groups of employees:

1. Employees of nonprofit organizations, educational institutions, and some religious organizations often qualify for a 403b plan. These plans allow employees to save for retirement by making contributions through salary deductions, often with the added benefit of employer matching contributions.
2. The 457b plan, on the other hand, is typically offered to employees of state and local government entities, including public schools and colleges. Similar to the 403b plan, it allows for tax-advantaged retirement savings through salary deductions, with potential employer matching contributions.

Overall, individuals working in these sectors should consider enrolling in the respective 403b or 457b plans to take advantage of the retirement savings benefits they offer. It is always beneficial to consult with your employer or plan administrator to determine your eligibility and fully understand the advantages and options available through these plans.

For pdfFiller’s FAQs

What is 403b and 457b enrollment?

403b and 457b enrollment refer to retirement savings plans offered to employees of certain tax-exempt organizations and government entities, respectively.

Who is required to file 403b and 457b enrollment?

Employees of eligible organizations are required to enroll in 403b and 457b plans if offered by their employer.

How to fill out 403b and 457b enrollment?

Employees can fill out 403b and 457b enrollment forms provided by their employer, selecting their contribution amount and investment options.

What is the purpose of 403b and 457b enrollment?

The purpose of 403b and 457b enrollment is to help employees save for retirement through tax-advantaged accounts.

What information must be reported on 403b and 457b enrollment?

Employees must provide personal information, contribution amount, beneficiary details, and investment selections on 403b and 457b enrollment forms.

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