Louisiana Deferred Comp For State Employees In Tarrant
Category:
State:
Multi-State
County:
Tarrant
Control #:
US-00418BG
Format:
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 Plan. Plan members can check investment performance, and guests may check general fund information.All current full-time and part-time Louisiana public employees are immediately eligible to participate in the Plan. Tarrant County offers an optional tax-deferred retirement savings program called Deferred Compensation (457(b) plan). State employee: • This form is used for stopping deferrals, changing product investment or beneficiary.