Louisiana Deferred Comp For Dummies In Sacramento
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State:
Multi-State
County:
Sacramento
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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Deferred compensation plans allow the participant to defer income today and withdraw it at some point in the future (usually upon retirement) Learn about the benefits and application process for service retirement, disability, and industrial disability retirement.Questions regarding §457 maximums and refunds should be directed to Louisiana Deferred Compensation at or toll free at . Deferred Compensation is an additional retirement savings plan that offers a convenient, tax-advantaged way to save for your retirement. Who is eligible to enroll? All current full-time and part-time Louisiana public employees are immediately eligible to participate in the Plan. Find your employer's plan.