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Danville CCD 118, IL Salary Reduction Agreement for 403(b) Annuity Contract or 403(b)(7) Custodial Account Please Type or Print Legibly Employees must establish an account with an authorized 403(b)
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How to fill out 403b salary reduction agreement

01
Obtain a 403b salary reduction agreement form from your employer or financial institution.
02
Fill in your personal information such as name, address, social security number, and employee ID number.
03
Indicate the percentage or amount of your salary that you wish to contribute to your 403b account.
04
Sign and date the agreement form, along with any required witness signatures if applicable.
05
Submit the completed form to your employer or financial institution for processing.

Who needs 403b salary reduction agreement?

01
Employees who want to contribute a portion of their salary to a 403b retirement account.
02
Employers who offer 403b plans as part of their retirement benefits package.
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403b salary reduction agreement is a written agreement between an employee and an employer where the employee agrees to have a specific amount of their salary deducted and contributed directly to their 403b retirement plan.
Employees who wish to contribute a portion of their salary to their 403b retirement plan are required to file a 403b salary reduction agreement with their employer.
To fill out a 403b salary reduction agreement, an employee must provide their personal information, specify the dollar amount or percentage of their salary to be contributed, and sign the agreement.
The purpose of a 403b salary reduction agreement is to allow employees to save for retirement by making regular contributions to their 403b plan directly from their salary.
The 403b salary reduction agreement must include the employee's name, address, Social Security number, the amount or percentage of salary to be contributed, and the effective date of the agreement.
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