Deferred Compensation Plan Nyc In Houston
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State:
Multi-State
City:
Houston
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 New York City Deferred Compensation Plan (DCP) allows eligible New York City employees a way to save for retirement through convenient payroll deductions. The City of Houston 457 Deferred.Compensation Plan is a powerful tool to help you reach your retirement dreams. You will need your Social Security Number and PIN to enroll in the Plan online. 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. Deferred compensation allows individuals to delay receiving part of their income until a future date, often during retirement. The New York State Deferred Compensation Plan is a 457(b) retirement plan created for New York State employees, and employees of participating agencies.