Agreement For Salary Advance In Broward
Category:
State:
Multi-State
County:
Broward
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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The affected employee shall requests a meeting with the. Payroll Department within five (5) workdays of receipt of the.Employees shall not enter into agreements or contracts on behalf of the MPO without the authorization of the Executive Director. 2.7. Salary. References to "Professional" in this Agreement will include all Bargaining Unit members.