New York State Deferred Compensation Plan Phone Number In Georgia
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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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A voluntary retirement savings plan that provides quality investment options, investment educational programs and related services. There are several benefits to becoming a local participating employer with the New York State Deferred Compensation Plan.Need more information about deferred compensation plans? The New York City Deferred Compensation Plan is a voluntary program that allows city employees to set aside a portion of their salary for retirement. Gov to file and learn more. New York City Deferred Compensation Plan. • Outside NYC: 888-DCP-3113. Employees of the Georgia Lottery Corporation are only eligible for the PSR 401(k) Plan, not the PSR 457 Plan. If you are enrolled in this kind of NQDC plan, or a similar type of plan, then you may benefit from retiring in a low or noincometax state.