Louisiana Deferred Comp For Dummies In San Bernardino
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State:
Multi-State
County:
San Bernardino
Control #:
US-00418BG
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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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A supplemental retirement plan that allows employees to contribute a portion of their pretax salary, within certain Internal Revenue Service (IRS) limits. Complete this form to decline your enrollment in the San Bernardino County 457(b) Deferred Compensation Plan.Questions regarding §457 maximums and refunds should be directed to Louisiana Deferred Compensation at or toll free at . Find your employer's plan. Reciprocity is an agreement among certain California public retirement systems allowing members to move from one public employer to another. Statement of Investment Policies and Guidelines for the San Bernardino County 457(b) Deferred Compensation Plan, 401(k). Use black or blue Ink when completing this form.