Deferred Compensation Agreement Template For Independent Contractors In Fairfax
Category:
State:
Multi-State
County:
Fairfax
Control #:
US-00417BG
Format:
Word;
Rich Text
Instant download
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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Article 72: Deferred Compensation. The County shall maintain a deferred compensation plan in accordance with the Fairfax County.Yes, the employer could allow independent contractors to participate in a 457b plan, but they are not required to do so. Sample Independent Contractor Agreement. If you (or your spouse) have self-employment income, including as an independent contractor, use the estimator. Use our Independent Contractor Agreement to create a contract between a company and a contractor (or freelancer). Worker's Compensation - To protect employees injured on the job, no cost to employee. This article highlights several of the main considerations for employers when they are operating, amending or terminating a NQDC plan.