Nys Deferred Comp Withdrawal In Cuyahoga
Category:
State:
Multi-State
County:
Cuyahoga
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 State Deferred Compensation Plan is a State-sponsored employee benefit for State employees and employees of participating employers. Benefit Distribution Request (PDF) (PDF) – Start the process needed to request a distribution from the Plan.OPERS provides age and service retirement, disability benefit and survivor benefit programs for public employees throughout the state. Submit your forms as follows: 1) Inquries and questions can be sent via email to the Plan.