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403b Plans Salary Reduction AgreementChange Form
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People also ask
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How do I change my 403b contribution?
You must complete the SRA Form to: Begin or restart contributions. Change allocation between companies (If you need to open an account with a new investment company, remember to complete Step 1 above first.) Change the total amount of contributions. Change between contributing a flat dollar amount or percent of pay. -
What is a salary reduction agreement for a 403b?
A 403(b) plan may allow: Elective deferrals - employee contributions made under a salary reduction agreement. The agreement allows an employer to withhold money from an employee's salary and deposit it into a 403(b) account. -
What is a SRA form?
The Salary Reduction Agreement (SRA) is utilized to establish, change, or cancel salary reductions withheld from your paycheck and contributed to the 403(b) Plan on your behalf. The SRA is also used to change the investment providers that receive your contributions. -
How do I fill out a salary reduction agreement?
Generally speaking, it should be in writing and signed by both parties; it should include details about the amount of the reduction, duration of the reduction, any additional benefits that are provided to make up for the reduced pay; and it should also include any applicable tax or social security implications for both ...
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