Deferred Compensation Plan For Highly Compensated Employees In Allegheny
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State:
Multi-State
County:
Allegheny
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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457(b) Deferred Compensation Plan. Click Enroll Now next to the Pennsylvania State Employees' Deferred Compensation Plan in the left-hand menu under Empower accounts. 3.Allegheny County's benefits package includes medical, dental, and vision coverage to support overall health and well-being for employees and their families. Benefits of deferred compensation​​ There are compelling reasons to consider NQDC plans, especially for highly compensated employees. Most state employees are eligible to participate in the voluntary Deferred Compensation Plan, commonly referred to as "deferred comp. I am pleased to present the 2023 Annual Comprehensive Financial Report (ACFR) for the County of. Allegheny County (the County).