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Van Alston ISD, TX 457(b) Participation Agreement Check if new participant Check if change to existing allocations Catch up contribution eligibility I will be age 50 or older this calendar year. Employee
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How to fill out 403b and 457 compensation

01
Obtain the necessary forms for both the 403b and 457 compensation plans.
02
Fill out personal information such as name, address, social security number, and contact details.
03
Specify the contribution amount you wish to make to each plan.
04
Choose your investment options for both plans.
05
Sign and date the forms before submitting them to the appropriate HR department.

Who needs 403b and 457 compensation?

01
Employees of non-profit organizations, such as schools, hospitals, and religious institutions, typically qualify for a 403b plan.
02
Government employees, including state and local workers, as well as some non-profit employees, may be eligible for a 457 compensation plan.
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403b and 457 compensation are retirement savings plans offered to employees of certain non-profit organizations and governmental entities, respectively.
Employees who participate in a 403b or 457 plan are required to report their contributions and earnings on their tax returns.
Employees can fill out the necessary forms provided by their employer or tax preparer to report their 403b and 457 compensation.
The purpose of 403b and 457 compensation is to provide individuals with a tax-advantaged way to save for retirement.
Employees must report the amount of their contributions, any earnings or distributions received, and other relevant information related to their 403b and 457 compensation.
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