457 Deferred Compensation
Some benefits of an employer 457 deferred compensation plan are:
- Reducing your current income taxes, while investing for retirement.
- Earnings accumulate tax-deferred.
- Convenient payroll deductions.
- It's portable if you change jobs.
- There is no penalty for early withdrawals if you leave service or retire.
For more plan information visit the Nationwide Pierce County webapge.
Accessing your Nationwide Deferred Compensation Plan
1. Enter your Social Security Number.
2. Use your date of birth for your initial Personal Identification Number (PIN); for example, if your birthday is Feb. 15, 1972, your PIN is 02151972.
3. Create a new four-digit PIN at the next prompt, this is your PIN you will use in the future
To make an appointment at the CCB or Annex, go to the online scheduler to see the next available time.
To make an appointment at all other locations, go to the online scheduler to see the next available time.
|Age||2013 - 2014||2015 - 2017||2018||2019||2020||2021|
|50 and over||$23,000
Age 50+ catch-up
If you are age 50 or older by the end of the year, your individual limit is increased by $6,500 in 2020 and 2021. This means your individual limit increases from $19,500 to $26,000 in 2020 and 2021.
Special 457(b) catch-up
Participants who have not contributed the maximum limit under IRS law in previous years may contribute an amount less or equal to the maximum limit (essentially, up to double the maximum) in the three years prior to the individual's normal retirement age.
Contact Nationwide to take action on these catch-up offers.
To apply for a hardship withdrawal you will need to complete the Nationwide Hardship Withdrawl Application return the completed forms along with copies of any documentation which supports the reason and amount for the request to Nationwide Retirement Solutions.