Louisiana Deferred Comp For Dummies In Palm Beach
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State:
Multi-State
County:
Palm Beach
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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Deferred compensation plans allow the participant to defer income today and withdraw it at some point in the future (usually upon retirement) Sign up and manage your deferred compensation retirement account.A non qualified deferred compensation plan is a strategy companies use to provide additional supplemental benefits to their key people. This website is intended to provide information about the State of Florida's Government Employees Deferred Compensation Plan. Use black or blue Ink when completing this form. Find your employer's plan. We assist injured workers, employers, health care providers, and insurers in following the Florida workers' compensation rules and laws.