Nys Deferred Comp Emergency Withdrawal In Clark
Category:
State:
Multi-State
County:
Clark
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
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.
Free preview
Form popularity
More info
To apply, fill out the Self-Certification Unforeseeable Emergency Form (PDF) and return it to us via mail. What is deferred compensation and the New York Deferred Compensation Plan?IMPORTANT: Do not complete this application if you wish to withdraw from your 457 account. You must complete the 457 Emergency Withdrawal Application. Attached is the Emergency Withdrawal Application for the Deferred Compensation Plan's 457 Plan. How do I enroll in the Plan? If you have any questions about completing this form, or about applying for a withdrawal on your own behalf, please contact Carolina Lopez at .