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Understanding SERP The company funds the plan out of its current cash flows or through the funding of a cash-value life insurance policy. The money, and the taxes on it, are deferred. After retiring, the executive can withdraw the money and must pay state and federal taxes on it as ordinary income.
Salaried Pension Plan. The term ?Salaried Pension Plan? shall mean the Georgia-Pacific Corporation Salaried Pension Plan as amended and restated effective January 1, 2000 and as thereafter amended from time to time. Supplemental Personal Account.
Georgia-Pacific Corporation offers medical insurance, life insurance, dependent life insurance, and short/long-term disability.
The Georgia State Employees' Pension and Savings Plan (GSEPS) combines a traditional pension plan with a 401(k) plan that includes an employer match. The 401(k) plan offers flexibility and ?portability? and the pension plan rewards state career longevity.