Deferred Compensation Agreement Template For Mortgage In Pennsylvania
Category:
State:
Multi-State
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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A deferred compensation agreement is an agreement between a company and an employee that withholds paying some of the employee's salary. Q: How do I enroll in the 457(b) Plan?A: In order to complete your enrollment in the 457(b) Plan, you must complete the applicable enrollment form. Deferred compensation refers to money received in one year for work performed in a previous year often many years earlier. A deferred compensation plan is another name for a 457(b) retirement plan, or "457 plan" for short.