Ohio Deferred Comp Fees In Fairfax
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State:
Multi-State
County:
Fairfax
Control #:
US-00418BG
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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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Deferred compensation such as 401-K plans, pension plans, etc. Are still subject to Village of Fairfax Earnings Tax.We encourage you to ask about and understand all fees associated with all your investments. Retirement Plan Fees. Schedule of fees and schedule of commissions is located in the Investment Section, pages 7475. Ohio Deferred Compensation is a supplemental 457(b) retirement plan for all Ohio public employees. It provides participants with educational tools. This booklet is a summary of information for Fairfax County Employees retiring on an. Normal Service, Early Service or Deferred Vested Retirement. Deferred compensation, such as 401-K plans and pension plans, are still subject to Village of Fairfax Earnings Tax.