457 Forms and Information
Changes to your 457 plan have to be submitted to and received by the Business Office prior to the first of the month in which you would like the change to take place. Any changes received after the first of the month cannot take place until the first payroll in the following month. However, you may stop your contribution at any time during the month.
What is a 457 Plan?
A 457 plan is a tax deferred savings plan much like a 403B plan. Savings are pre-tax and earnings on investments are tax deferred.
Maximum Contribution: $18,000 in 2016. If you are over 50, you can defer an additional $6,000
There is a 3-year catch up rule that allows participants in one or more of the three years ending before the attainment of normal retirement age under the plan to make additional deferrals.
Service Providers participating in Meriden Public School's 457 plan:
Service Provider: AXA Equitable
Contact: Joseph Scappatura (203) 937 - 2438
Service Provider: ING
Contact: Robert Klein (800) 784-6386 ext. 580-1636
Service Provider: New England Capital
Contact: Chris Beale
Service Provider: Security Benefits
Contact: Bill Mann (203) 271-3192