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Fer rum College Deferred Annuity (TDA) Plan Restated as of February 8, 2000, Summary Plan Description This document provides each Participant with a description of the Institution's Deferred Annuity
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How to Fill Out Ferrum College Tax-Deferred Annuity:

01
Obtain the necessary forms: To begin the process of filling out the Ferrum College tax-deferred annuity, you will need to obtain the appropriate forms. These forms can usually be found on the college's website or by contacting the relevant department.
02
Provide personal information: The forms will require you to provide your personal information, such as your name, address, social security number, and contact details. Make sure to fill in all the required fields accurately.
03
Choose investment options: The Ferrum College tax-deferred annuity typically offers various investment options. Carefully review and consider these options before making your selection. You may want to consult with a financial advisor or retirement planner for guidance.
04
Determine contribution amount: Decide on the amount you wish to contribute to the annuity. This could be a fixed percentage of your salary or a specific dollar amount. Make sure to adhere to any contribution limits set by the college or IRS regulations.
05
Designate beneficiaries: In the event of your passing, you will need to designate beneficiaries for your annuity. Provide the necessary information for each beneficiary, including their names, addresses, and social security numbers.

Who Needs Ferrum College Tax-Deferred Annuity:

01
Employees of Ferrum College: The Ferrum College tax-deferred annuity is designed specifically for employees of the college. If you are currently employed by Ferrum College, you may be eligible to participate in this retirement savings plan.
02
Individuals looking for tax advantages: The tax-deferred nature of this annuity can provide individuals with potential tax benefits. By deferring taxes on your contributions and investment earnings, you may have the opportunity to maximize your retirement savings over time.
03
Those seeking long-term financial security: A tax-deferred annuity can be an effective tool for individuals looking to secure their financial future. By contributing regularly to this annuity, you can build a retirement fund that will provide income during your post-employment years.
Overall, the Ferrum College tax-deferred annuity offers a convenient and tax-advantaged way for Ferrum College employees to save for retirement. By following the steps outlined above, you can successfully fill out the necessary forms and begin planning for your future financial security.
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Ferrum College tax-deferred annuity is a retirement savings plan in which employees can contribute a portion of their salary on a pre-tax basis, with the taxes deferred until the funds are withdrawn in retirement.
Employees of Ferrum College who choose to participate in the tax-deferred annuity program are required to file the necessary paperwork for enrollment and contributions.
Employees can fill out the necessary forms provided by the college's HR department or retirement plan administrator to enroll in the tax-deferred annuity program and designate contribution amounts.
The purpose of Ferrum College tax-deferred annuity is to help employees save for retirement by deferring taxes on contributions and allowing funds to grow tax-free until withdrawal in retirement.
Employees must report their contribution amounts, investment options, and any changes to their contribution elections on the tax-deferred annuity forms provided by Ferrum College.
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