Get the free 457 CatchUp Election Form

The Kentucky Public Employees' Deferred Compensation Authority www.kentuckydcp.com 101 Sea Hero Road, Suite 110 Frankfort, KY 40601 502.573.7925 or Toll Free 800.542.2667 Fax 502.573.4494 CATCH- P”

How to fill out 457 catchup election form

How to fill out 457 catchup election form?

1. Obtain the 457 catchup election form from the appropriate source, such as your employer or retirement plan administrator.
2. Carefully read the instructions provided with the form to understand the requirements and guidelines for filling it out properly.
3. Fill in your personal information accurately, including your name, address, social security number, and other required identification details.
4. Determine the catch-up contribution amount you want to make and indicate it clearly on the form. The catch-up contribution limits may vary, so ensure you are aware of the maximum allowed amount.
5. Follow any additional instructions or guidelines regarding the timing and method of submitting the completed form. This may involve submitting it directly to your employer, retirement plan administrator, or a designated department.
6. Double-check all the information you have provided on the form to ensure its accuracy. Mistakes or omissions may delay the processing of your catch-up contribution.
7. Keep a copy of the completed form for your records before submitting it, and consider retaining any supporting documentation that may be required.

Who needs 457 catchup election form?

1. Individuals who are eligible to contribute to a 457 retirement plan and wish to make catch-up contributions above the normal limits may need to fill out the 457 catch-up election form.
2. This form is typically required for individuals who are age 50 or older and want to take advantage of the additional contribution allowance offered by the catch-up provision.
3. It is important to consult with your employer or retirement plan administrator to confirm whether you are eligible for catch-up contributions and whether the 457 catch-up election form is necessary in your specific case.

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What is 457 catchup election form?

The 457 catch-up election form is a document that allows eligible individuals to contribute more towards their 457 retirement plan in addition to their annual contribution limits.

Who is required to file 457 catchup election form?

Individuals who are 50 years or older and have not contributed their maximum allowed contribution to their 457 retirement plan in previous years are required to file the 457 catch-up election form.

How to fill out 457 catchup election form?

To fill out the 457 catch-up election form, individuals need to provide their personal information, including their name, address, and social security number, as well as their employer information. They also need to indicate the additional catch-up contribution amount they wish to make.

What is the purpose of 457 catchup election form?

The purpose of the 457 catch-up election form is to allow individuals who are 50 years or older to make additional contributions to their 457 retirement plan in order to catch up on their savings.

What information must be reported on 457 catchup election form?

The 457 catch-up election form requires individuals to report their personal information, such as their name, address, and social security number. They also need to provide their employer information and indicate the additional catch-up contribution amount.