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ROTH 457(b) Deferred Compensation Program Participation Agreement Send All Copies to: Maricopa Community Colleges Payroll Department Fax to: 4807318405Type of EmployeeOffice Use Only Group: Input
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The 457b Roth Salary Reduction Agreement is a document that allows employees to contribute a portion of their salary to a Roth IRA through pretax deductions, which can grow tax-free.
Employees of public sector or certain non-profit organizations who wish to participate in the 457b Roth plan are required to file this agreement.
To fill out the agreement, provide personal information, specify the percentage or amount of salary to be deducted, and sign the document to authorize the transactions.
The purpose is to facilitate employees in saving for retirement by enabling them to make after-tax contributions to a Roth account, which can grow tax-free until withdrawal.
The agreement typically requires reporting the employee's name, social security number, amount of salary reduction, and any changes to the contribution amount.
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