How do I start a 457(b)? Step 1 One vendor is available for the 457(b) plan. Research available investment options from this vendor. Strive to understand all investment fees, operating rules and objectives. Obtain and read fixed annuity contracts and variable annuity and mutual fund prospectuses. The Investment FAQs section of this web site and the Securities and Exchange Commission (SEC) both have useful general investment information. Fund tracker Morningstar Inc. is also a good place to conduct online research, although some content on the Morningstar site requires payment of a fee.   Step 2 Obtain enrollment information from the NCPS Business Office.   Step 3 Complete the enrollment information. You will be asked to select one or more investments for your 457(b) contribution. Designate the amount of money you wish to contribute each pay period. You will also be asked to name a beneficiary who will receive your investment in the event of your death. Your vendor will be able to provide details on naming a beneficiary.   Step 4 Turn in your enrollment information to the NCPS Business Office. With the 457(b) plan there is no separate Salary Reduction Agreement to complete. The amount by which your salary is reduced is then directed to your 457(b) investment. These contributions are known as elective deferrals and are excluded from your income.   next question    back to 457(b) questions view 403(b) questions    view investment questions					403(b) Vendor List 457(b) Vendor List Savings Calculator Savings Distribution Calculator 403(b) Questions 457(b) Questions Investment Questions District Contacts Daryl DiZenzo Payroll/Benefits Accountant 203.594.4016 Mike Lagas Business Manager 203.594.4014 more resources