Sick and Vacation Deferral Form 457b - Delaware

Sick and Vacation Deferral Form 457b - Delaware

Sick and Vacation Deferral Form 457b is a legal document that was released by the Delaware Office of the State Treasurer - a government authority operating within Delaware.

FAQ

Q: What is the Sick and Vacation Deferral Form 457b?
A: The Sick and Vacation Deferral Form 457b is a form used in Delaware to defer sick and vacation leave payouts into a tax-deferred retirement account.

Q: Who is eligible to use the Sick and Vacation Deferral Form 457b?
A: Employees in Delaware who have accumulated sick and vacation leave are eligible to use this form.

Q: What does it mean to defer sick and vacation leave payouts?
A: Deferring sick and vacation leave payouts means that instead of receiving a cash payout for unused leave, the amount is contributed to a retirement account and is not subject to immediate taxation.

Q: Is the use of the Sick and Vacation Deferral Form 457b mandatory?
A: No, the use of this form is voluntary. Employees have the option to choose whether to defer their sick and vacation leave payouts or receive them as cash.

Q: What are the benefits of using the Sick and Vacation Deferral Form 457b?
A: The main benefit is the tax advantage of deferring the payouts into a retirement account. It allows employees to potentially save on immediate taxes and increase their retirement savings.

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Form Details:

  • Released on October 29, 2020;
  • The latest edition currently provided by the Delaware Office of the State Treasurer;
  • Ready to use and print;
  • Easy to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of the form by clicking the link below or browse more documents and templates provided by the Delaware Office of the State Treasurer.

Download Sick and Vacation Deferral Form 457b - Delaware

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