457 Plan: Enrolling

457 Plan

Enrolling

Enrolling in the CERF 457 Savings Plan is easy. You will need to:

Review enrollment materials obtained from your payroll office or by calling Great-West at (877) 895-1394;
Complete a 457 Enrollment/Beneficiary form and choose your investment option(s);
Return the completed form to your county payroll office.

Enrollment/Beneficiary forms are also available to download from www.mocerf.org.

You may change your investment elections at any time by going online at www.gwrs.com or using a touch-tone phone by calling KeyTalk^® at (800) 701-8255.

To illustrate how voluntary contributions to the CERF 457 Plan will help you reduce taxes while you save for retirement, assume you earn $20,000 per year, pay a 20% marginal federal and state income tax rate and contribute 5% of pay to the plan.

If You Save in the CERF 457 Plan
Pre-tax pay	$20,000
5% 457 contributions (5% x $20,000)	$1,000
Taxable Wages	$19,000
Income taxes paid	$3,800
$200 saved in income taxes $1,000 saved in the CERF Savings Plan

If You Do Not Save in the CERF 457 Plan
Pre-tax pay	$20,000
457 contributions	$0
Taxable Wages	$20,000
Income taxes paid	$4,000
No tax savings and $0 saved in the CERF Savings Plan