Deferred Compensation Agreement Template For Small Business In Wake
Category:
State:
Multi-State
County:
Wake
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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This deferred compensation agreement template has 3 pages and is a MS Word file type listed under our human resources documents. Benefit Distribution Request (PDF) (PDF) – Start the process needed to request a distribution from the Plan.A deferred compensation plan is any plan that withholds a portion of an employee's pay until the end of the deferral period. This Deferred Compensation Agreement template outlines the terms and conditions of deferred compensation for employees. Business and Advanced Solutions provides sample agreements to support the business solutions listed below. Submit your forms as follows: 1) Inquries and questions can be sent via email to the Plan. 457(b) plans allow you to make withdrawals at any age, provided that you leave the employer with whom you have the plan.