Louisiana Deferred Comp Withdrawal In Orange
Category:
State:
Multi-State
County:
Orange
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
The withdrawals are also subject to state income tax. For questions, please call and leave a detailed message and a Local Retirement Counselor will return your call.In lieu of a deferred allowance, you may withdraw your member contributions with interest upon your termination. Once you terminate service (e.g. Questions regarding §457 maximums and refunds should be directed to Louisiana Deferred Compensation at or toll free at . For more information on loans, contact the. Louisiana Deferred Compensation Plan at .