Deferred Compensation Plan AccountsTransaction Instructions
To add one or more new plan participants, complete a Deferred Compensation Plan Enrollment Form. Instructions for sending the initial salary deferral are provided on the enrollment form.
To make a withdrawal from a participant account, complete a Deferred Compensation Plan Redemption Form. As in a 401(k) Plan, withdrawals from deferred compensation plans are restricted. Generally speaking, redemptions can be made only at separation of service, death or certain emergency situations. It is the employer's responsibility to verify a participant's eligibility.
Redemption proceeds are paid to the employer. The employer will need to send a separate check to the participant and is responsible for issuing any tax forms reporting payments made to individuals.
To make a contribution to participant accounts complete the Group Purchase Form for Deferred Compensation Plan Accounts (Microsoft® Office Excel format) and submit this form with your contribution amount. Instructions for sending salary deferrals by check, wire or ACH transfer are provided on the form. We encourage employers to download this form and save it to your desktop to avoid having to rekey data each time you make a contribution.
