Deferred Compensation Plan Examples In Palm Beach
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Multi-State
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Palm Beach
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US-00418BG
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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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Sign up and manage your deferred compensation retirement account. Visit MyFloridaDeferredComp.This website is intended to provide information about the State of Florida's Government Employees Deferred Compensation Plan. 457(b) Deferred Compensation Plan. EZ Enrollment Form. Authorization. When completing the Election Form, the Participant must allocate the amounts to be deferred, in whole percentages, among the available Investment Funds.