414h is instead of a 401k, and tells us this is a governmental employee. It is being reported because it is in a retirement account (trust) and will be taxed when taken. The only issue, as I recall, is whether it is considered employee or employer and subject to FICA, which should already have been computed and is part of that W2 already.

Box 14 is informational and neither of these is a separate entry for the 1040. A specific State might have some consideration for when they start taking that money, as a sourced income for retirement as taxed or not.