18-276 18-276 . . . Director Incentive Compensation Plan under which eligible directors are granted automatic, nondiscretionary annual awards of 100 shares of common stock to each eligible director at no cost to director upon election or re-election by stockholders. The Board may amend award formula to no greater than 500 shares per year per director
Mississippi Director Incentive Compensation Plan
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US-CC-18-276
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FAQ
A deferred compensation plan is another name for a 457(b) retirement plan, or ?457 plan? for short. Deferred compensation plans are designed for state and municipal workers, as well as employees of some tax-exempt organizations.
Mississippi Deferred Compensation (MDC) MDC is a voluntary supplemental tax-deferred retirement savings plan offered through PERS to all state employees, elected officials, employees of participating political subdivisions, and independent contractors of the state or participating political subdivisions.
Key Takeaways. Deferred compensation plans allow employees to withhold a certain amount of their salaries or wages for a specific purpose. Deferred compensation plans can be qualified or non-qualified. Qualified plans fall under the Employee Retirement Income Security Act and include 401(k)s and 403(b)s.
The Mississippi Deferred Compensation Plan & Trust (MDCPT), offered through the Mississippi Public Employees' Retirement System (PERS), is a supplemental retirement savings plan authorized under Section 457 of the Internal Revenue Code and enacted by the Mississippi State Legislature.
? Summary. AN ACT TO DIRECT THE STATE PERSONNEL BOARD TO AMEND THE VARIABLE COMPENSATION PLAN AS NECESSARY TO AWARD A SALARY INCREASE TO EACH STATE EMPLOYEE WHOSE SALARY IS FUNDED BY THE STATE GENERAL FUND IN THE AMOUNT OF A 6% ACROSS-THE-BOARD INCREASE PER YEAR BEGINNING JULY 1, 2023; AND FOR RELATED PURPOSES.
The amount you can defer (including pre-tax and Roth contributions) to all your plans (not including 457(b) plans) is $22,500 in 2023 ($20,500 in 2022; $19,500 in 2020 and 2021; $19,000 in 2021).