Deferred Compensation Form For Executives In Salt Lake
Category:
State:
Multi-State
County:
Salt Lake
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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Deferred Compensation Plan (if applicable). You may contribute the maximum less the total amount you have contributed during the current calendar year.Human Resources Forms: 401(a) Retirement Election Form (Employer-paid), 403(b) Salary Reduction Agreement Form, 457(b) Deferred Compensation Plan Form. Search our library of forms. Deferred compensation is a financial arrangement where employees can elect to receive a portion of their income at a later date, typically during retirement. Employers should not withhold income taxes on the amounts paid to a beneficiary or estate following an employee's death. Org to read more about your retirement system or refer to our Retirement Information Packet. Our employee benefits and executive compensation lawyers work with employers to develop and administer employee benefit programs of all kinds.