Section 457 Deferred Compensation Plan Services

The Vendor is required to provide the plan is intended to qualify as an "eligible deferred compensation plan" under section 457 ("section 457") of the internal revenue code of 1986 ("code"), as now in effect or hereinafter amended. To become an "eligible deferred compensation plan" in the state.
- Specify the basic recordkeeping system to be provided for our plan, with particular reference to the ability to receive, disburse, control and audit deductions, and to ensure timeliness, accuracy and confidentiality of records and describe the software used.
- Data processing operations, including the media by which your company can receive payroll deduction information, and its security provisions. Include a statement about your disaster recovery plan and its site location. Identify any subcontracting requirements for your primary administration responsibilities and comment on how this is possible in light of Section 9003.5(b) of the Regulations.
- Indicate all interfacing: payroll deduction inputs, required certifications and any other transactions, specifying all direct and indirect costs. Specify how payroll deduction information is to be supplied. Indicate ability to interface with internal data processing systems.