Deferred Compensation Agreement Template With Example In Suffolk
Category:
State:
Multi-State
County:
Suffolk
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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Complete the deferred payment agreement application form (Word, 26KB). Deferred Compensation Report.Please Enter Employee ID, Last 4 of SSN, Last Name and First Name to search. Upon completion of two (2) years of service, employees benefit time shall be increased to the current contract entitlement. 4. Code G - Elective deferrals and employer contributions (including non-elective deferrals) to a section 457(b) deferred compensation plan. Benefit Distribution Request (PDF) (PDF) – Start the process needed to request a distribution from the Plan. A contract between the County and a public servant for the purpose of providing a foster home for a child under the care of the Suffolk County.