Deferred Compensation Plan Mn In Dallas
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State:
Multi-State
County:
Dallas
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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The Minnesota Deferred Compensation Plan (MNDCP) is a voluntary savings plan intended for long-term investing for retirement. If you have questions about the deferred compensation plan, please contact the Minnesota Deferred Compensation Plan at 1-800-657-. 5757. 4.Sign up and manage your deferred compensation retirement account. If you are eligible for a deferred compensation match or conversion, the questions and answers below will help you make your selection. Find your employer's plan. Deferred Compensation Plan.