Louisiana Deferred Comp Form 2023 In Santa Clara
Category:
State:
Multi-State
County:
Santa Clara
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
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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The 457(B) Plan allows employees to make regular contributions into retirement savings. There are both pre-tax and after-tax savings options.Sign up and manage your deferred compensation retirement account. The CalPERS 457 Plan is a voluntary deferred retirement savings plan that allows you to defer any amount, subject to annual limits, from your paycheck. Use black or blue Ink when completing this form. Here you will find information on benefits available to City employees and their eligible dependents. • Select: REGISTER.