20-146 20-146 . . . Deferred Compensation Investment Account Plan under which Board of Directors of Savings and Loan Association allocates a portion of annual bonuses which would otherwise be paid to selected officers and employees to a separate account. The deferred compensation in such account is deemed, for purposes of Plan only, to represent specified percentages of Association's investments in certain portfolios of equity securities, and it is increased or decreased to same extent as performance of such securities
Louisiana Deferred Compensation Investment Account Plan
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US-CC-20-146
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How to fill out Deferred Compensation Investment Account Plan?
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FAQ
A 401k plan has certain limitations on the amount that an individual can contribute each year. A deferred compensation plan, on the other hand, has no maximum contribution limit in any given year.
Investing your deferred compensation Your plan might offer you several options for the benchmark?often, major stock and bond indexes, the 10-year US Treasury note, the company's stock price, or the mutual fund choices in the company 401(k) plan.
The Louisiana Deferred Compensation Plan is a 457(b) plan. LSU employees have the option through the State of Louisiana Deferred Compensation Plan with Empower Retirement. This plan allows employees to defer a pre-tax portion of earnings into a supplemental retirement account.
A ?section 457 plan? is a deferred compensation plan that is maintained by an eligible employer and that complies with the specific requirements set out in IRC Section 457(b).
Put the plan in writing: Think of it as a contract with your employee. Be sure to include the deferred amount and when your business will pay it. Decide on the timing: You'll need to choose the events that trigger when your business will pay an employee's deferred income.
Types of Deferred Compensation Salary Reduction Arrangements: Employees on a deferred compensation plan may choose to defer a portion of their salary until a future year. For example, an employee that earns $80,000 per year may choose to defer $30,000 of their salary and only receive $50,000 for the current year.
For example, an employee that earns $80,000 per year may choose to defer $30,000 of their salary and only receive $50,000 for the current year. Deferred funds are not eligible as taxable income for employees until they receive the funds in the future.