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County of Santa Cruz 457 Deferred Compensation Deduction Form Instructions: Complete the information below and send or fax the form to the Personnel Department at 701 Ocean Street, Room 510, fax#

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How to fill out 457 deferred compensation deduction

01

Obtain the 457 deferred compensation deduction form from your employer or retirement plan provider.

02

Fill in your personal information such as name, address, and Social Security number.

03

Indicate the amount you wish to contribute to your 457 deferred compensation plan on a pre-tax basis.

04

Ensure you are not exceeding the annual contribution limit set by the IRS.

05

Submit the completed form to your employer or retirement plan provider for processing.

06

Review your paycheck to confirm that the deductions are being taken out correctly.

Who needs 457 deferred compensation deduction?

01

Employees of state and local governments who are eligible for a 457 deferred compensation plan.

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What is 457 deferred compensation deduction?

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

Who is required to file 457 deferred compensation deduction?

Employees who are eligible to participate in a 457 deferred compensation plan are required to file the deduction.

How to fill out 457 deferred compensation deduction?

To fill out a 457 deferred compensation deduction, employees need to input the amount they want to contribute from their paycheck to the plan.

What is the purpose of 457 deferred compensation deduction?

The purpose of the 457 deferred compensation deduction is to allow employees to save for retirement in a tax-advantaged way.

What information must be reported on 457 deferred compensation deduction?

The amount of contributions made to the 457 plan during the tax year must be reported on the deduction.

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