Ohio Deferred Comp Fees In Franklin
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State:
Multi-State
County:
Franklin
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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Ohio Deferred Compensation is a supplemental 457(b) retirement plan for all Ohio public employees. It provides participants with educational tools.Ohio Deferred Compensation Employees are not required to enroll in deferred compensation. The Administration Fund recovers the costs of its operations through fees charged to the participant accounts in the Program Fund. We have reviewed the Independent Auditor's Report of the Ohio Public Employees Deferred. Beginning in 2003, the. We offer two retirement plans for employees like you to save from each paycheck and invest toward retirement.