Deferred Compensation Agreement Template For Professional Services In Salt Lake
Category:
State:
Multi-State
County:
Salt Lake
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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A deferred compensation agreement is an agreement between a company and an employee that withholds paying some of the employee's salary. This Deferred Compensation Agreement template outlines the terms and conditions of deferred compensation for employees.Deferred compensation is that portion of your employment compensation that is earned in one year, but not payable until a later date. Westminster University is a private, non-profit, accredited, and comprehensive liberal arts university in Salt Lake City, Utah. Deferred Compensation Plan (if applicable). You may contribute the maximum less the total amount you have contributed during the current calendar year.