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July 24, 2009 / jimnv

Nevada Public Employees’ Deferred Compensation Program

Here is some information about Nevada’s 457  deferred compensation plan.  This is a great way to save for retirement through pretax payroll deductions. I know things are financially rough right now, but you really need to think about the future and put away what you can.

Nevada Public Employees’ Deferred Compensation Program
1027 S. Carson Street, Suite E
Carson City, NV 89701
Email: deferredcomp@defcomp.nv.gov
Phone: 775.882.0760
Fax: 775.882.0621

2009 Contribution Limits

Year Regular Contribution Limits 50+ Catch-Up*
Contribution Limits
3-Year Catch-Up**
Contribution Limits
2009 100% of compensation up to: For participants age 50 or older, 100% of compensation up to: The total of the regular limit + missed contributions up to:
$16,500 $22,000 $33,000
*Participants are not able to use the 50+ Catch Up limits and the 3-Year Catch-Up limits at the same time.
**If you are within three years of your normal retirement age, you may qualify to contribute more than the regular maximum under the Program’s 3-year Catch-Up Provision.

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Information from the Nevada Public Employees’ Deferred Compensation Program website.

Laws regarding Deferred Compensation for State Employees: NRS 287

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