Deferred Compensation Agreement Template For Real Estate In Illinois
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
The State of Illinois Deferred Compensation Plan is a supplemental retirement program for State employees. Download any State of Illinois Deferred Compensation Plan form now using Acrobat Reader.These forms allow data to be typed into the form and saved. You must sign and date the application. 1. Deferred Compensation Agreement. A deferred compensation agreement is an agreement between a company and an employee that withholds paying some of the employee's salary. Assessment Tax Deferral and Recovery Agreement, at the time you file this application. When a person receives wages (i.e.