Contract With Compensation In Minnesota - Deferred Compensation Agreement - Short Form
Category:
State:
Multi-State
Control #:
US-00417BG
Format:
Word
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Description
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.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.
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Employment contracts typically set out the term or length of employment, compensation and benefits, job duties, and circumstances for termination. This fact sheet explains how to classify your workers and covers the differences between workers and independent contractors.Salary Plans ; AFSCME. A Minnesota employment contract outlines what is expected of the parties and includes details such as the job responsibilities of the employee. Log into agcmncontracts. Com and click Contract Forms. Covered Contracts and Contractors.