On your W-2 form, 414H represents the amount of your wages that was withheld for a tax-deferred retirement plan for government employees. For example, if you work as a teacher for a public school, your school district may withhold money from your paycheck to put in a state teacher’s retirement plan.
Also to know is, are contributions to 414H tax deductible?
These contributions are exempt from Federal tax but are not exempt from New York State tax; therefore, the amount must be added to your New York State tax return. You can find the amount of your 2008 retirement contribution (known as “414(h)” contributions) in Box 14 on your W-2 Statement.
Also, is a 414H a qualified retirement plan? The 414(h) retirement plan is a retirement plan only available to government employees. These plans don’t qualify for the Retirement Savings Credit though. Contributions are considered employer contributions because your contributions are deducted from your paycheck and your employer may also contribute a portion.