Deferred Compensation Plan For Government Employees In Nevada
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
Enrolling in the NDC Plan is one of the most important and valuable decisions you can make while working for the State of Nevada or a participating employer. This Summary Plan Document explains the provisions, policies and rules that govern the Nevada Public Employees' Deferred Compensation (NDC) Plan.The Nevada deferred compensation program offers public employees a way to save for retirement while benefiting from taxdeferred growth. The 457 Deferred Compensation Plan is available to all full-time employees immediately upon employment. The Plan can help you save on taxes now and in retirement, and offers a variety of investment options and features. After a thorough review, the State of.