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This document facilitates the transfer of retirement plan assets for participants in the ICMA Retirement Corporation's 457 Deferred Compensation Plan. It includes instructions for completing the transfer

How to fill out 457 deferred compensation plan

How to fill out 457 Deferred Compensation Plan Employee Request for Account Transfer

1. Obtain the 457 Deferred Compensation Plan Employee Request for Account Transfer form from your employer's HR department or website.
2. Carefully read through the instructions provided on the form.
3. Fill in your personal information, including your name, employee ID, and contact information in the designated sections.
4. Specify the type of transfer you are requesting (e.g., transfer to a different investment option or to another qualified plan).
5. Include any relevant account numbers or details necessary for the transfer process.
6. Sign and date the form to validate your request.
7. Submit the completed form to your employer's HR department or the plan administrator as directed.

Who needs 457 Deferred Compensation Plan Employee Request for Account Transfer?

1. Employees participating in the 457 Deferred Compensation Plan who wish to transfer funds between accounts or investment options.

People Also Ask about

What is deferred compensation on an IRS transcript?

An eligible deferred compensation plan under IRC Section 457(b) is an agreement or arrangement (which may be an individual employment agreement) under which the payment of compensation is deferred (whether by salary reduction or by nonelective employer contribution).

What is a 457 employee deferred compensation plan?

A 457(b) plan is a tax-deferred retirement savings plan. Funds are withdrawn from an employee's income without being taxed and are only taxed upon withdrawal, which is typically at retirement, after the funds have had several years to grow.

How does a 457 deferred compensation plan work?

Cons of 457(b) plans: Fewer investing options than 401(k)s (Not as common today) Only available to certain employees employed by state or local governments or qualifying nonprofits. Employer contributions count toward the annual limit. Non-governmental 457(b) plans are riskier.

For pdfFiller’s FAQs

What is 457 Deferred Compensation Plan Employee Request for Account Transfer?

The 457 Deferred Compensation Plan Employee Request for Account Transfer is a form used by employees participating in a 457 deferred compensation plan to request the transfer of their account balance to another financial institution or investment option.

Who is required to file 457 Deferred Compensation Plan Employee Request for Account Transfer?

Employees who wish to transfer their account balance from one 457 Deferred Compensation Plan account to another are required to file this request.

How to fill out 457 Deferred Compensation Plan Employee Request for Account Transfer?

To fill out the request, an employee needs to provide personal identification information, specify the current plan and the new plan to which the account will be transferred, and sign the form to authorize the transfer.

What is the purpose of 457 Deferred Compensation Plan Employee Request for Account Transfer?

The purpose of the request is to formally initiate the process of transferring funds from one 457 Deferred Compensation Plan account to another, ensuring the employee's retirement savings are managed according to their preferences.

What information must be reported on 457 Deferred Compensation Plan Employee Request for Account Transfer?

The form must report the employee's name, contact information, details of the current account (such as account number), and information regarding the new account where the funds will be transferred.