Louisiana Deferred Comp Withdrawal In Collin
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State:
Multi-State
County:
Collin
Control #:
US-00418BG
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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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For more information on loans, contact the. Louisiana Deferred Compensation Plan at .You can participate in DROP for up to 36 months. In no event shall the revocation of a participant's deferral authorization permit a distribution of deferred compensation, except as provided in §701. To apply for a hardship withdrawal, call or log into your DCP account at LA457. Louisiana Public Employees Deferred Comp. Plan. 9822801. Use black or blue ink when completing this form. Com or ). Whether you are considering enrolling in the Louisiana Deferred Compensation Plan or moving your assets to another plan, take time to compare the fees.