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UNIVERSITY SYSTEM OF MARYLAND EMPLOYEES Deduction Authorization Form for Enrollment/Change/Cancellation in:TIAA 457(b) Retirement Savings Account (Pretax Contributions) Please print or type all information
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To fill out the 457b form for Towson University, follow these steps:
02
Obtain the 457b form from the HR department or download it from the university's website.
03
Fill in your personal information, including your name, address, and social security number.
04
Specify your employment details, such as your job title, department, and start date.
05
Indicate your contribution amount and select an investment option for your contributions.
06
Provide your bank account information for direct deposits if applicable.
07
Sign and date the form.
08
Submit the completed form to the HR department for processing.

Who needs 457b - towson university?

01
457b is a retirement savings plan specifically designed for employees of Towson University. Anyone who is employed by the university may be eligible to participate in the 457b plan. It is a voluntary benefit offered to help employees save for retirement by contributing a portion of their salary to the plan. This plan can be particularly beneficial for those who want to supplement their pension or other retirement savings and take advantage of potential tax advantages. It is important to consult with the HR department or a financial advisor to determine if the 457b plan is suitable for your individual financial goals and circumstances.
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The 457b plan at Towson University is a type of deferred compensation plan that allows employees to save for retirement on a tax-deferred basis.
Employees of Towson University who participate in the 457b retirement plan are required to file for their contributions and distributions.
To fill out the 457b form, employees must provide personal information, indicate the contribution amount, and follow the specific instructions provided by the university's HR department.
The purpose of the 457b plan is to enable employees to save for retirement by deferring a portion of their salary and reducing their taxable income.
The information that must be reported includes employee contributions, employer contributions (if any), and distribution amounts.
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