Deferred Compensation Agreement Template For Real Estate In Washington
Category:
State:
Multi-State
Control #:
US-00417BG
Format:
Word;
Rich Text
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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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Or complete the paper form (Beneficiary Designation) and mail it to DRS. Obtain the necessary forms for a deferred compensation agreement, including the employee's acknowledgement of the agreement and an IRS Form W-4P.A deferred compensation agreement is an agreement between a company and an employee that withholds paying some of the employee's salary. Use this form only to enroll in the Washington. State Deferred Compensation Program, a 457(b) plan with pretax and Roth contribution options. Employees agree with their employer to defer a portion of their salary or bonuses. Each Employee who is making Deferrals shall, except as provided below, be deemed to have changed his or her Employee Salary.