Louisiana Deferred Comp For 2023 In Collin
Category:
State:
Multi-State
County:
Collin
Control #:
US-00418BG
Format:
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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If you wish to enroll in Deferred Compensation you have 30 days from your date of hire to enroll retroactive to your original date. Find your employer's plan.This is a voluntary retirement plan offered to City of Tacoma employees created to allow you to put aside money from each paycheck towards retirement. • Select: REGISTER.