Salary Agreement For Public Service Employees In Middlesex
Category:
State:
Multi-State
County:
Middlesex
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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Middlesex County has opportunities for people with talent and drive! The Act requires the payment of minimum rates of pay to laborers, craftsmen, and apprentices employed on public works projects.Under New Jersey's tenure laws, a local board of education many not terminate or reduce the compensation of a public school employee who has earned tenure.