New York State Deferred Compensation Plan Annual Report In Massachusetts
Category:
State:
Multi-State
Control #:
US-00418BG
Format:
Word;
Rich Text
Instant download
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.
Free preview
Form popularity
More info
A voluntary retirement savings plan that provides quality investment options, investment educational programs and related services. Submit the In-Service Distribu- tion Form, along with a copy of the buyback statement from your pension system, to the Deferred Compensation Plan's.Benefit Distribution Request (PDF) (PDF) – Start the process needed to request a distribution from the Plan. The Massachusetts Deferred Compensation SMART Plan is a voluntary retirement savings program. File your Form 5500 series with ease. Access resources and official guidance for plan reporting and compliance.