Deferred Compensation Agreement Template For Self Employed In Florida
Category:
State:
Multi-State
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.
Free preview
Form popularity
More info
This website is intended to provide information about the State of Florida's Government Employees Deferred Compensation Plan. Complete the "ROLLOVER INTO FLORIDA PLAN FORM" and send it back to your Investment Provider.(The Investment Provider sends these forms to the participant.). A governmental retirement plan must meet certain minimum benefit or contribution standards to qualify as a public retirement system. The Deferred Compensation Plan Is Not A Savings Plan From Which You Will Be Able To Withdraw Funds At Anytime. An NQDC plan generally allows you to defer a portion of your compensation, and related federal and state income taxes, to a later date.