Deferred Compensation Form For Small Business Owners In King
Category:
State:
Multi-State
County:
King
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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Submit your forms as follows: 1) Inquries and questions can be sent via email to the Plan. Benefit Distribution Request (PDF) (PDF) – Start the process needed to request a distribution from the Plan.The New York City Deferred Compensation Plan (DCP) allows eligible New York City employees a way to save for retirement through convenient payroll deductions. The amount from Form 6765 must then be reported on Form 8974,. This report provides a comprehensive summary of basic informa- tion on the cooperative way of organizing and operating a business.