Deferred Compensation Form For 2023 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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Submit your forms as follows: 1) Inquries and questions can be sent via email to the Plan. Benefit Distribution Request (PDF) (PDF) – Start the process needed to request a distribution from the Plan.How do I set up RMDs? The Duke 457(b) Deferred Compensation Plan (the "Duke 457(b) Plan" or the "Plan") can provide you with an opportunity to increase your retirement savings. The Town has two medical plans (PPO and HDHP plans). View employee benefit information including health insurance, paid leave, retirement and more.