Louisiana Deferred Comp Phone Number In Middlesex

State:
Multi-State
County:
Middlesex
Control #:
US-00418BG
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Word; 
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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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FAQ

Overseen by the New York State Deferred Compensation Board, the Plan is managed by a professional staff located in Albany, NY. The primary function of the Board office is to provide centralized oversight of all the Plan's operations and manage the Plan to a Board-approved annual administration budget.

For New York State Plan forms, brochures or account information, go to the Plan's web site or contact the HELPLINE at 1-800-422-8463.

A team of 17 regional Account Executives who offer local on-site educational programs to employees of participating employers. A team of HELPLINE Representatives located in Troy, New York that is available Monday through Friday 8am until 11pm and Saturday from 9am until 6pm.

Louisiana Deferred Compensation Plan (LDCP) is a voluntary retirement savings plan that offers eligible employees the option to contribute pre-tax or post tax (Roth) contributions through payroll deductions.

You may defer between one and 100 percent of your available salary after mandatory deductions (minus your tax-sheltered pension or other voluntary tax-sheltered contributions) with an annual dollar maximum in 2025 of $23,500 ($30,500 for individuals age 50 and older).

Elective deferral limit The amount you can defer (including pre-tax and Roth contributions) to all your plans (not including 457(b) plans) is $23,000 in 2024 ($22,500 in 2023; $20,500 in 2022; $19,500 in 2020 and 2021; $19,000 in 2021).

§457 Contributions Louisiana Deferred Compensation Plan (LDCP) is a voluntary retirement savings plan that offers eligible employees the option to contribute pre-tax or post tax (Roth) contributions through payroll deductions.

§ 414(h), SEP, Federal Thrift Savings Funds, or Individual Retirement Accounts must be included in gross income. Employer contributions to these plans receive tax-deferred treatment.

New Jersey does not allow you to exclude from wages amounts you contribute to deferred compensation and retirement plans, other than 401(k) Plans. Specific plans that New Jersey does not allow taxpayers to exclude contributions to include, but are not limited to, plans under I.R.C. § 403(b), I.R.C. § 457, 409A, I.R.C.

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Louisiana Deferred Comp Phone Number In Middlesex