Deferred Compensation Plan For Government Employees In Tarrant
Category:
State:
Multi-State
County:
Tarrant
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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Tarrant County offers an optional tax-deferred retirement savings program called Deferred Compensation (457(b) plan). Plans eligible under 457(b) allow employees of sponsoring organizations to defer income taxation on retirement savings into future years.A voluntary retirement savings plan that provides quality investment options, investment educational programs and related services. Submit your forms as follows: 1) Inquries and questions can be sent via email to the Plan. A governmental retirement plan must meet certain minimum benefit or contribution standards to qualify as a public retirement system. You can pay your City of Fort Worth utility bill in a number of ways. Opening, closing and transferring accounts.