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Participant Enrollment Governmental 457(b) Plan Massachusetts Deferred Compensation SMART Plan Mandatory OBRA9896602Participant Informational NameFirst Semisocial Security NumberAddress Number & StreetEasy

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How to fill out 457 deferred compensation

01

Obtain the 457 deferred compensation form from your employer or financial institution.

02

Fill out your personal information including your name, address, and social security number.

03

Specify the amount or percentage of your salary you would like to contribute to the 457 plan.

04

Choose your investment options from the available choices provided.

05

Review the completed form for accuracy and sign and date it before submitting.

Who needs 457 deferred compensation?

01

Individuals who work for state or local governments, tax-exempt organizations, or certain non-profit organizations may be eligible for a 457 deferred compensation plan.

02

457 deferred compensation plans are typically offered to employees who want to save additional money for retirement beyond their pension or other retirement benefits.

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What is 457 deferred compensation?

457 deferred compensation is a retirement plan available to certain employees of state and local governments and tax-exempt organizations.

Who is required to file 457 deferred compensation?

Employees of state and local governments and tax-exempt organizations are typically eligible to participate in a 457 deferred compensation plan.

How to fill out 457 deferred compensation?

To participate in a 457 deferred compensation plan, employees must elect to defer a portion of their salary into the plan through their employer.

What is the purpose of 457 deferred compensation?

The purpose of 457 deferred compensation is to allow employees to save for retirement on a tax-deferred basis.

What information must be reported on 457 deferred compensation?

Employees must report the amount of their salary that they are deferring into the plan, as well as any investment earnings within the plan.

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