Louisiana Deferred Comp For State Employees 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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All current full-time and part-time Louisiana public employees are immediately eligible to participate in the Plan. Louisiana Public Employees Deferred Comp. Plan. 98228-01.Use black or blue Ink when completing this form. Learn about the benefits of participating in the Louisiana Public Employees' Deferred Compensation Plan to supplement your LASERS retirement. To enroll in the Plan, employees must meet the following criteria: • Be age 18 or older. Social Security Benefits Exclusion (R. S. .2)—Social Security benefits that are taxed on your federal return may be excluded from Louisiana taxable income. Louisiana Public Employees Deferred Comp. Plan. 9822801. Use black or blue ink when completing this form. Plan―the State of Louisiana Public Employees.