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Why must I notify STRS Ohio 60 days before implementing a tax-deferred plan?

April 26, 2017days implementing notify Ohio Plan STRs tax-deferred

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Why must I notify STRS Ohio 60 days before implementing a tax-deferred plan?

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During this time, STRS Ohio identifies your employees who are currently participating in payroll deduction and notifies them of the plan adoption. STRS Ohio also advises them of the restrictions on a tax-deferred plan and their individual options.