Louisiana Deferred Comp For Retirement In Los Angeles - Deferred Compensation Agreement - Long Form
Category:
State:
Multi-State
County:
Los Angeles
Control #:
US-00418BG
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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The City of Los Angeles Deferred Compensation Plan is a voluntary tax-advantaged governmental 457(b) plan that allows you to save a portion of your salary now. Please work with a local Retirement Counselor to ensure your deferral changes are executed on time.Questions regarding §457 maximums and refunds should be directed to Louisiana Deferred Compensation at or toll free at . The City of Los Angeles Deferred Compensation Plan is a supplementary retirement savings plan. It is available to all full-time employees. Reciprocity is an agreement among certain California public retirement systems allowing members to move from one public employer to another. You've walked through the LAFPP path and learned some basic retirement information. We hope that we have made learning about your pension easy to follow. If you wish to enroll in Deferred Compensation you have 30 days from your date of hire to enroll retroactive to your original date.