Deferred Compensation Form For 2023 In Clark
Category:
State:
Multi-State
County:
Clark
Control #:
US-00417BG
Format:
Word;
Rich Text
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Description
Deferred compensation is an arrangement in which a portion of an employee's income is paid out at a date after which the income is actually earned. A Deferred Compensation Agreement is a contractual agreement in which an employee (or independent contractor) agrees to be paid in a future year for services rendered. Deferred compensation payments generally commence upon termination of employment (e.g., retirement) or death or disability before retirement. These agreements are often geared toward anticipated retirement in order to provide cash payments to the retiree and to defer taxation to a year when the recipient is in a lower bracket. Although the employer's contractual obligation to pay the deferred compensation is typically unsecured, the obligation still constitutes a contractual promise.
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Submit your forms as follows: 1) Inquries and questions can be sent via email to the Plan. You may not make DAR contributions in the year that you designate as.Benefit Distribution Request (PDF) (PDF) – Start the process needed to request a distribution from the Plan. Kimberly-Clark Corporation Voluntary Deferred Compensation Plan. Effective January 1, 2023. If you participate in a deferred compensation plan, you can contribute a portion of your salary to a retirement account. Internal Revenue Code Section 457 provides taxadvantaged treatment for certain nonqualified deferredcompensation plans.