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Beneficiary Designation 401(k) Plan Texa$aver 401(k) Plan 9896001 For My Information For questions regarding this form, visit the website at www.texasaver.com or contact Service Provider at 18006345091.

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Related content

Texa$aver 401(k) / 457 Program | ERS
As you begin to plan for retirement, be sure to make good use of tax-advantaged savings...
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from www.texasaver.com or by requesting one from your Texa$aver representative. For...
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Advantages & Disadvantages of 457(b) and 457(k) Plans ProsConsTaxes on your contributions, interest and dividends are deferred until you withdraw money.The maximum annual limit for contributions is $45,000 (including all catch-up contributions); far below the limit for total 401(k) contributions.3 more rows • Sep 14, 2020

While you are still employed, you can withdraw funds from your Texa$aver accounts for financial hardship withdrawals and withdrawals when you reach 59 1/2. You must exhaust your 401(k) loan and/or 457 loan options before you can apply for a financial hardship withdrawal.

What is the Texa$aver program? Texa$aver is a voluntary retirement savings program offered through ERS. Texa$aver can help you save for your future today. Many financial experts agree that you will need 70-100% of your income to maintain your current way of life in retirement.

Types of 457 Plans Just like a 401(k) or 403(b) retirement savings plan, a 457 plan allows you to invest a portion of your salary on a pretax basis. The money grows, tax-deferred, waiting for you to decide what to do with it when you retire.

Age 59½ Withdrawals Withdrawals taken from your 401(k) account if you are age 59½ or older will not have a penalty. However, a 20% tax on your withdrawal will be withheld if the funds are not rolled over to an IRA or other qualified plan. For more information or withdrawal assistance, contact Texa$aver.

For employees, the key benefit of a 457(b) plan is that the savings are tax-deferred: Contributions are made on a pre-tax basis, reducing taxable income and growing tax-deferred until withdrawal. 457(b) plans also have the advantage of catch-up options.

The Employees Retirement System of Texas (ERS) administers the Texa$aver 401 (k) and 457 Program - a voluntary tax-deferred supplemental retirement program developed to help state and eligible higher education employees with their personal retirement savings through elective payroll contributions to complement their ...

401(k) plans and 457 plans are both tax-advantaged retirement savings plans. 401(k) plans are offered by private employers, while 457 plans are offered by state and local governments and some nonprofits.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232