New York State Deferred Compensation Plan Investment Options In Minnesota
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. The Minnesota Deferred Compensation Plan (MNDCP) is a voluntary savings plan intended for long-term investing for retirement.Details on the Plan's investment offerings can be found in The Guide to Investment Options (PDF). Qualified deferred compensation plans include regular defined benefit plans, 401(k), IRA, and 457 plans. If you have questions about the deferred compensation plan, please contact the Minnesota Deferred Compensation Plan at 1-800-657- 5757. 4. The MNDCP offers a variety of investment options to help you build a diversified portfolio. A core menu of investment options that cover seven asset categories including lifecycle and balanced funds, a stable income fund and a mutual fund window. NACo's Deferred Compensation Program has helped more than 1.5 million county employees and retirees save for and live comfortably in retirement.