Louisiana Deferred Comp For Small Business In Franklin
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State:
Multi-State
County:
Franklin
Control #:
US-00418BG
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Word;
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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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Questions regarding §457 maximums and refunds should be directed to Louisiana Deferred Compensation at or toll free at . Follow the prompts to enroll.Contribution Form and submit it online, or call the Bureau of Deferred Compensation at. If you wish to enroll in Deferred Compensation you have 30 days from your date of hire to enroll retroactive to your original date.