Deferred Compensation Plan Nyc In Texas
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Multi-State
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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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The New York City Deferred Compensation Plan (DCP) allows eligible New York City employees a way to save for retirement through convenient payroll deductions. The City of Houston 457 Deferred.Compensation Plan is a powerful tool to help you reach your retirement dreams. 1, 2008, new state employees are automatically enrolled in a deferred compensation plan unless they notify their agencies that they wish to opt out of the plan. Com to enroll online. The NYC Deferred Compensation Plan (DCP) allows municipal employees to boost their retirement savings through taxdeferred contributions. Nationwide retirement plans prepare you for the future. Learn more about 457(b) plans designed for government workers.