Change of Employer - Nc 457 Plan - North Carolina

Change of Employer - Nc 457 Plan is a legal document that was released by the North Carolina Department of State Treasurer - a government authority operating within North Carolina.

FAQ

Q: What is a change of employer?
A: A change of employer refers to switching employers or being employed by a different company.

Q: What is an NC 457 plan?
A: An NC 457 plan is a retirement savings plan offered to certain public employees in North Carolina.

Q: How does a change of employer affect an NC 457 plan?
A: A change of employer may impact your NC 457 plan as you may need to review and update your contributions, beneficiaries, and investment options.

Q: What should I do if I have a change of employer and have an NC 457 plan?
A: If you have a change of employer and have an NC 457 plan, you should contact your plan administrator to understand the necessary steps to update and manage your plan.

Q: Are there any tax implications for a change of employer with an NC 457 plan?
A: There may be tax implications for a change of employer with an NC 457 plan, such as rollover options, so it is important to consult with a tax professional or financial advisor to understand the specific implications for your situation.

Q: Can I withdraw funds from my NC 457 plan if I change employers?
A: In most cases, you cannot withdraw funds from your NC 457 plan if you change employers. However, you may have options to roll over the funds into another qualified retirement plan or an Individual Retirement Account (IRA). It is best to consult with your plan administrator or a financial advisor to explore your available options.