Deferred Compensation Agreement Template For Independent Contractors In Sacramento
Category:
State:
Multi-State
County:
Sacramento
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.
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Links and Forms County Employee Deferred Compensation Office, Fidelity, 1- Information on the 401(a) Plan. Independent contractors, may be participants in a section 457 plan.Many of us have deferred compensation plans. You know them as pension plans, 401Ks, and IRAs. Sample Independent Contractor Agreement. A deferred compensation agreement is an agreement between a company and an employee that withholds paying some of the employee's salary.