Deferred Compensation Plan In Alameda
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State:
Multi-State
County:
Alameda
Control #:
US-00418BG
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Word;
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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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Participating in the Program is one of the best ways to save money for your retirement. To start the online enrollment process for the Deferred Compensation Plan, please click here.Roth option now available for all 457 plans. The Deferred Compensation Plan is a supplemental retirement plan option in addition to your CalPERS pension plan. Deferred comp will allow you the ability like i said before to possibly get to to 90 possibly get to you know 100 of your salary.