New York State Deferred Comp Log In In Suffolk
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State:
Multi-State
County:
Suffolk
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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A voluntary retirement savings plan that provides quality investment options, investment educational programs and related services. 6.14.15 Please attach your filled out New York State Deferred Compensation Plan Vendor Responsibility.Sign in to Retirement Online to find your benefit plan, which is listed under My Account Summary. One way State employees and many municipal employees can save for retirement is through the New York State Deferred Compensation Plan (NYSDCP).