Louisiana Deferred Comp For State Employees In Washington
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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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Retirement plan guides for all Department of Retirement System plans including rules and benefit information for Washington State DRS pension customers. CONTRIBUTION AMOUNT – Use this section to specify the percentage or dollar amounts you will contribute to the plan.You can change your contribution. NACo's Deferred Compensation Program has helped more than 1.5 million county employees and retirees save for and live comfortably in retirement. Deferred compensation is an agreement between employee and employer to postpone part of the employee's income until separation from service. Find your employer's plan.