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2022 ULTRAPAR/1040, v.2022.3.4 User Bulletin 1040US22.3.4: Update March 23, 2023CHANGES This update includes the following changes. Income from a nonqualified deferred compensation plan or a nongovernmental
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How to fill out 457 deferred compensation plan

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How to fill out 457 deferred compensation plan

01
Contact your employer to confirm if they offer a 457 deferred compensation plan.
02
Review the plan documents provided by your employer to understand the available options.
03
Decide how much of your salary you want to contribute to the plan.
04
Choose your investment options based on your risk tolerance and financial goals.
05
Submit the necessary paperwork to enroll in the plan and specify your contribution amount.

Who needs 457 deferred compensation plan?

01
Employees of state and local governments
02
Employees of certain non-profit organizations
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A 457 deferred compensation plan is a retirement savings plan available to certain government and non-profit employees.
Employees eligible for a 457 deferred compensation plan are required to enroll and contribute to the plan.
Employees can fill out a 457 deferred compensation plan by completing the required forms provided by their employer.
The purpose of a 457 deferred compensation plan is to allow employees to save for retirement through tax-deferred contributions.
Information such as employee contributions, employer contributions, investment choices, and beneficiary information must be reported on a 457 deferred compensation plan.
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