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RESET FORM MAIL COMPLETED FORM TO: STATE OF CONNECTICUT DEFERRED COMPENSATION 457 PLAN PARTICIPATION AGREEMENT CO-783 REV. 01/2012 www.CTdcp.com ING Life Insurance and Annuity Co. PO Box 990069 Hartford,

How to fill out 457 participation agreement

How to fill out 457 participation agreement:

1. Obtain the form: The first step is to obtain the 457 participation agreement form. This can typically be obtained from your employer or the plan administrator.
2. Read the instructions: Carefully read through the instructions provided with the form. This will ensure that you understand the purpose and requirements of the 457 participation agreement.
3. Provide personal information: Fill in your personal information, such as your name, address, social security number, and date of birth. This information is necessary to identify you as the participant in the 457 plan.
4. Select contribution amount: Decide on the amount you wish to contribute to the 457 plan. This can usually be expressed as a percentage of your salary or a specific dollar amount.
5. Choose investment options: The next step is to select the investment options for your contributions. This may include a range of investment funds or options offered by the plan. Consider your risk tolerance and long-term financial goals when making this decision.
6. Designate beneficiaries: Indicate who you would like to designate as your beneficiaries in the event of your death. This could be your spouse, children, or other individuals.
7. Review and sign the agreement: Carefully review all the information you have provided on the form. Ensure its accuracy and sign the 457 participation agreement.

Who needs a 457 participation agreement:

1. Employees of state and local governments: The 457 participation agreement is typically needed by employees of state and local government agencies. This includes police officers, firefighters, teachers, and other public servants.
2. Non-profit organizations: Employees of non-profit organizations that offer 457 plans may also need to fill out a participation agreement. These organizations could include charitable foundations, universities, and healthcare institutions.
3. Independent contractors: In some cases, independent contractors who provide services to government entities may be eligible to participate in a 457 plan. They would also require a participation agreement.
4. Certain public employees: Some public employees, such as those employed by state universities or public hospitals, may have access to a 457 plan. They would need to fill out the participation agreement to enroll in the plan.

Note: It is important to consult with your employer or plan administrator to determine if you are eligible for a 457 plan and if a participation agreement is required for your specific situation.

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What is 457 participation agreement?

457 participation agreement is a document between an employer and employee regarding the employee's participation in a 457 retirement plan.

Who is required to file 457 participation agreement?

Employees who wish to enroll in a 457 retirement plan are required to file a participation agreement.

How to fill out 457 participation agreement?

The 457 participation agreement can usually be filled out online or through the employer's HR department. It typically requires personal information and contribution amounts.

What is the purpose of 457 participation agreement?

The purpose of the 457 participation agreement is to formalize the employee's decision to participate in a 457 retirement plan and establish the terms of their contributions.

What information must be reported on 457 participation agreement?

The 457 participation agreement typically requires information such as employee name, address, date of birth, contribution amount, and beneficiary designation.