Deferred Compensation Plan Nyc In Bexar
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State:
Multi-State
County:
Bexar
Control #:
US-00418BG
Format:
Word;
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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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The New York City Deferred Compensation Plan (DCP) allows eligible New York City employees a way to save for retirement through convenient payroll deductions. You will need your Social Security Number and PIN to enroll in the Plan online.A voluntary retirement savings plan that provides quality investment options, investment educational programs and related services. Fill out this form and submit it via mail for processing. Learn more about how to start receiving income in the Learning Center. Here's an overview of how to fill out a 457 retirement plan application for New York State. Enjoy! How do I enroll in the Plan?