Nys Deferred Comp Withdrawal Form For Withdrawal In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-00418BG
Format:
Word;
Rich Text
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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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Benefit Distribution Request (PDF) (PDF) – Start the process needed to request a distribution from the Plan. Benefit Distribution Request (PDF) – Start the process needed to request a distribution from the Plan.Fill out this form and submit it via mail for processing. You also have the option to defer receiving your benefits until a later date, but only until you reach age 72. Submit your forms as follows: 1) Inquries and questions can be sent via email to the Plan. Application for Service Retirement. This is a two-page form. Assistance from a local Nationwide Retirement Specialist is strongly recommended when completing this section. Please call for assistance. AEP career shares are a form of nonqualified deferred compensation that has a value equivalent to a share of AEP common stock.