Louisiana Deferred Comp For Sale In Kings
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State:
Multi-State
County:
Kings
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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All current full-time and part-time Louisiana public employees are immediately eligible to participate in the Plan. Fees for the Louisiana Deferred Compensation Plan are tiered based on account balance.See below for a full breakdown of the fees. We recommend you review your beneficiaries on an annual basis to ensure the information is up to date, accurate, and complete. Questions regarding §457 maximums and refunds should be directed to Louisiana Deferred Compensation at or toll free at . Plan―the State of Louisiana Public Employees. The DROP provides a way for members who are eligible to retire to continue working while receiving a retirement benefit. Simply complete the enclosed enrollment form and submit it to your employer. Follow the prompts to enroll.