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165 Enrollment Form NC 457b DEFERRED COMPENSATION PLAN Instructions Please print using blue or black ink. Please keep a copy for your records and send completed form to the following address or fax

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What is 457b retirement plansget 457b?

457(b) retirement plans, also known as deferred compensation plans, are a type of retirement savings plan available to employees of certain tax-exempt organizations and governmental employers. These plans allow employees to defer a portion of their salary into a retirement account, where the funds can grow tax-deferred until retirement.

Who is required to file 457b retirement plansget 457b?

Employees of tax-exempt organizations and governmental employers who are eligible for a 457(b) retirement plan are required to file a 457(b) form to participate in the plan.

How to fill out 457b retirement plansget 457b?

To fill out a 457(b) retirement plan, employees need to obtain the necessary forms from their employer or plan administrator. The forms typically require providing personal information, such as name, address, and social security number, as well as specifying the desired contribution amount and investment options.

What is the purpose of 457b retirement plansget 457b?

The purpose of 457(b) retirement plans is to provide employees with a tax-advantaged method of saving for retirement. These plans allow employees to contribute a portion of their salary on a pre-tax basis, potentially reducing their taxable income. The funds in the plan can grow tax-deferred until withdrawal, making it a valuable tool for retirement savings.

What information must be reported on 457b retirement plansget 457b?

The information required to be reported on a 457(b) retirement plan includes personal information of the employee, such as name and social security number, as well as the contribution amount and investment options chosen. It may also require the employee's salary information and any additional employer contributions.

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