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Ravenna Public Schools, MI Salary Reduction Authorization for 403(b) Annuity Contract or 403(b)(7) Custodial Accountable of Company403(b) Product Provider No Load Account (No Agent Signature Required)Employees
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How to fill out 403b salary reduction authorization

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How to fill out 403b salary reduction authorization

01
Obtain the 403b salary reduction authorization form from your employer or plan administrator.
02
Fill in your personal information such as name, address, and social security number.
03
Indicate the percentage or dollar amount of your salary you wish to contribute to your 403b plan.
04
Sign and date the form to authorize the salary reduction.
05
Submit the completed form to your employer or plan administrator for processing.

Who needs 403b salary reduction authorization?

01
Employees who are eligible to participate in a 403b retirement plan offered by their employer.
02
Individuals who want to save for retirement by making pre-tax contributions from their salary.
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A 403b salary reduction authorization is a form that allows employees to instruct their employer to deduct a specified amount from their salary and contribute it to a 403b retirement plan on their behalf.
Employees who wish to participate in a 403b retirement plan and have their contributions deducted from their salary are required to file a 403b salary reduction authorization.
To fill out a 403b salary reduction authorization, employees need to provide their personal information, the amount or percentage of their salary to be deducted, and any additional required details specific to their employer's plan.
The purpose of the 403b salary reduction authorization is to allow employees to save for retirement by making pre-tax contributions to a 403b retirement account, reducing their taxable income.
The information that must be reported on a 403b salary reduction authorization includes the employee's name, Social Security number, contribution amount, frequency of contributions, and any designation for beneficiary.
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