Deferred Compensation Plan For Government Employees In Wake
Category:
State:
Multi-State
County:
Wake
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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The New York City Deferred Compensation Plan (DCP) allows eligible New York City employees a way to save for retirement through convenient payroll deductions. You will need your Social Security Number and PIN to enroll in the Plan online.A voluntary retirement savings plan that provides quality investment options, investment educational programs and related services. NC 457 Retirement Plan. Employees are eligible to enroll in this deferred compensation plan, available exclusively to North Carolina public employees. Contributions to a 457(b) Deferred Compensation Plan are taken directly from your salary and reduce your current taxable income. 9. NC 457 Retirement Plan. Employees are eligible to enroll in this deferred compensation plan available exclusively to North Carolina public employees. Deferred compensation plans are small business employee benefits that let employees reduce their immediate tax liabilities.