Louisiana Deferred Comp Form 2023 In Tarrant
Category:
State:
Multi-State
County:
Tarrant
Control #:
US-00418BG
Format:
Word;
Rich Text
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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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Find your employer's plan. • Select: REGISTER.Use black or blue Ink when completing this form. It offers a generous agency contribution of 8 percent with a 5 percent required employee contribution. A deferred compensation plan (457) is also offered. If you anticipate that you will owe additional tax on your return, then you should submit your payment with a payment voucher. State employee: • This form is used for stopping deferrals, changing product investment or beneficiary.