Deferred Compensation Plan For Non-employee Directors In Bronx
Category:
State:
Multi-State
County:
Bronx
Control #:
US-00418BG
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.
Free preview
Form popularity
More info
The New York City Deferred Compensation Plan (DCP) allows eligible New York City employees a way to save for retirement through convenient payroll deductions. Do not complete this Enrollment Form if you are already enrolled in the 457 or 401(k) Plan and wish to elect Roth (after-tax) deferrals.A voluntary retirement savings plan that provides quality investment options, investment educational programs and related services. Additionally, a PDF copy of the response must be e-mailed to James Reeves: james. Benefit Distribution Request (PDF) (PDF) – Start the process needed to request a distribution from the Plan. The Plan also enables Non-Employee Directors to defer certain items of Compensation in the future, should the Board choose to allow such a deferral arrangement.