Louisiana Deferred Comp For State Employees In Virginia
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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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To enroll online: Set up your online access and log in. Select Enroll from the COV 457 Deferred Comp Plan dropdown menu.Wage employees can complete this form to enroll in the Commonwealth of Virginia 457 Deferred Compensation Plan. If you are a salaried employee (i.e. Deferred Compensation Plan. Plan members can check investment performance, and guests may check general fund information. Most eligible employees can enroll online after registering their DCP Account. NYS Pension Taxation Requirements By State. Will Your NYS Pension be Taxed If You Move to Another State? All current full-time and part-time Louisiana public employees are immediately eligible to participate in the Plan.