Louisiana Deferred Comp For 2023 In Travis
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State:
Multi-State
County:
Travis
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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If you are eligible to retire after January 1, 2004, and you choose to enter DROP, you will automatically be enrolled in the Self-Directed Plan. Louisiana Public Employees Deferred Comp. Plan. 9822801.Use black or blue ink when completing this form. For more information on loans, contact the Louisiana Deferred Compensation Plan at . A 457 deferred compensation plan allows you to save money directly from your paycheck for retirement, and offers tax benefits and different investment options. The City of Madison offers an optional Deferred Compensation 457(b) plan to permanent employees.