w88 mobile supplemental 457 deferred compensation plan
News from the Office of Nevada w88 mobile Compensation:
The Nevada w88 mobile Compensation Program (NDC) is a w88 mobile retirement savings program for employees of the State of Nevada, NSHE and other local government employers. The program is designed to supplement your other retirement savings and pensions. Contributions are made pre-tax and investment earnings are tax-deferred or you may invest on post-tax (Roth) basis and your investment earnings will be tax-free upon eligible withdrawal. Both types of deductions are made through payroll. Effective January 1, 2015, VOYA Financial (formerly ING) became the sole record-keeper for this plan.
How to participate
If you are interested in saving for retirement and have not enrolled in the Nevada w88 mobile Compensation Program, please complete your deduction changes in Workday and go to the link below to fill out the form to set up your account.
If you already have a w88 mobile compensation account and wish to increase (or decrease) your payroll deductions, please complete your changes in Workday.
w88 mobile 457 retirement plan limits
| w88 mobile | 2024 limits | 2025 limits |
|---|---|---|
| State of Nevada w88 mobile Compensation 457 Plan | ,000 | ,500 |
| 50+ Additional catch-w88 mobile deferrals | ,500 | ,500 |
| Special 457 w88 mobile Pre-Retirement 3-year Catch-up* | The total of the regular limit plus missed w88 mobile years up to ,000 | The total of the regular limit plus missed w88 mobile years up to ,000 |
*Participants must qualify through their record keeper by completing the pre-petirement worksheet. w88 mobile the Record Keeper directly.
w88 mobile considerations
You may wish to defer beginning your retirement income. However, you should be aware that there are federal minimum distribution rules, which require you to receive some income from your retirement w88 mobile contributions and earnings.
w88 mobile laws
- Federal minimum distribution rules require that you begin receiving income from your retirement w88 mobile by April 1 after the year you either (1) reach age 72 (73 if you reach age 72 after December 31, 2022), or (2) retire, whichever comes later.
- Once w88 mobile begin minimum distributions, w88 mobile must continue to receive income each year thereafter to satisfy these rules. w88 mobile are responsible for beginning minimum distributions; your investment carrier(s) can provide w88 mobile with guidance.
- If w88 mobile do not comply with these rules, w88 mobile could become subject to a 50% excise tax on your minimum distribution.
- If w88 mobile are of sufficient age to begin minimum distributions, w88 mobile may wish to select the minimum distribution payment option as your payment option. This option may be appropriate if w88 mobile want to maximize income deferral and preserve your accumulation, w88 mobile have other income that is adequate for your basic income needs or w88 mobile want to postpone selecting an annuity or other distribution method.
Please consult with w88 mobile 401 (a) investment carrier(s) to obtain more information.