Deferred Compensation Agreement Template With Example In Arizona
Category:
State:
Multi-State
Control #:
US-00417BG
Format:
Word;
Rich Text
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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.
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A deferred compensation agreement is an agreement between a company and an employee that withholds paying some of the employee's salary. If you would like to choose a later date, please indicate: Date: Provider for.(C) Deemed 125 Compensation. If you participate in a deferred compensation plan, you can contribute a portion of your salary to a retirement account. Deferred Compensation Provider – The vendor currently on contract with the State to provide deferred compensation services.