Louisiana Deferred Comp Form 2023 In Los Angeles
Category:
State:
Multi-State
County:
Los Angeles
Control #:
US-00418BG
Format:
Word;
Rich Text
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Description
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 City of Los Angeles Deferred Compensation Plan is a voluntary tax-advantaged governmental 457(b) plan that allows you to save a portion of your salary now. If you are eligible to retire after January 1, 2004, and you choose to enter DROP, you will automatically be enrolled in the Self-Directed Plan.The City of Los Angeles Deferred Compensation Plan is a supplementary retirement savings plan. It is available to all full-time employees. Com regarding your rollover options. Louisiana franchise tax is imposed only on that part of the total taxable capital that is employed in Louisiana. INSTRUCTIONS FOR COMPLETING FORM CIFT-620. Louisiana Public Employees Deferred Comp. Plan. 9822801. Use black or blue ink when completing this form. Please work with a local Retirement Counselor to ensure your deferral changes are executed on time.