Nys Deferred Comp Withdrawal Form For Fixed Annuities In Houston
Category:
State:
Multi-State
City:
Houston
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. Used to submit administrative changes to a client account. State employee: • This form is used for stopping deferrals, changing product investment or beneficiary. A voluntary retirement savings plan that provides quality investment options, investment educational programs and related services. When a paper form must be submitted, a pre-filled form with further instructions will be available for you to download, print and sign prior to submission. The annuity company that's transferring the contract should issue you a Form 1099R that you can use to report the exchange on your taxes.