Louisiana Deferred Comp For 2023 In Illinois
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Multi-State
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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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The State of Illinois Deferred Compensation Plan is a supplemental retirement program for State employees. Download any State of Illinois Deferred Compensation Plan form now using Acrobat Reader.These forms allow data to be typed into the form and saved. This voluntary plan, called the SURS Deferred Compensation Plan (DCP), provides members an avenue to save more and generate additional income in retirement. Questions regarding §457 maximums and refunds should be directed to Louisiana Deferred Compensation at or toll free at . Find your employer's plan. Tax Social Security, Comments. The SURS Deferred Compensation 457 Plan (also known as the SURS DCP) is an investment plan available to all actively contributing SURS members. Deferred compensation contribution limit increased.