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MONEY PURCHASE PAYMENT APPLICATION Ohio Public Employees Retirement System 277 East Town Street, Columbus, Ohio 43215-4642 1-800-222-PERS (7377) www.opers.org STEP 1: Member Information Social Security
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How to fill out money purchase payment application
How to fill out money purchase payment application:
01
Obtain the money purchase payment application form from the appropriate source, such as your employer or retirement plan administrator.
02
Start by providing your personal information, including your name, address, social security number, and contact details.
03
Fill in the relevant details about your retirement plan, such as the plan name, account number, and the type of plan (e.g., 401(k), 403(b), etc.).
04
Indicate the amount you wish to contribute as a money purchase payment. This can be a percentage of your salary or a specific dollar amount.
05
If applicable, specify whether you want your contributions to be pre-tax (traditional) or post-tax (Roth).
06
If your employer offers a matching contribution, indicate the percentage or amount you want them to match.
07
Review the terms and conditions of the money purchase payment application form and ensure you understand them.
08
Sign and date the application form to signify your agreement with the terms and your intention to make the money purchase payment.
Who needs money purchase payment application:
01
Employees who are enrolled in an employer-sponsored retirement plan, such as a 401(k) or 403(b), may need to fill out a money purchase payment application to make additional contributions.
02
Individuals who want to contribute extra funds to their retirement savings and have the option to do so through their employer's money purchase plan would need this application.
03
Anyone who wants to take advantage of employer matching contributions or maximize their retirement savings by making voluntary contributions may require a money purchase payment application.
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What is money purchase payment application?
Money purchase payment application is a form used to report contributions made to a money purchase pension plan.
Who is required to file money purchase payment application?
Employers who maintain a money purchase pension plan are required to file the money purchase payment application.
How to fill out money purchase payment application?
The money purchase payment application can be filled out online or submitted by mail. It requires reporting the contributions made to the money purchase pension plan.
What is the purpose of money purchase payment application?
The purpose of the money purchase payment application is to report and document the contributions made to the money purchase pension plan.
What information must be reported on money purchase payment application?
The money purchase payment application must include details of the contributions made to the money purchase pension plan, along with the employer's information.
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