Deferred Compensation Plan For Non-employee Directors In Phoenix
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State:
Multi-State
City:
Phoenix
Control #:
US-00418BG
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Word;
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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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Enrolled in a retirement plan but don't have an online account? (t). PARTICIPANT means any PUBLIC EMPLOYEE who is or has been eligible to defer.Is a deferred compensation plan subject to Code Section 409A? Learn some hints to spot if so, and considerations to take. Deferred compensation is a portion of an employee's compensation that is paid at a later date. 401(a) Deferred Compensation Plan – tax-deferred, and available to all fulltime, benefited State employees.