Nevada Deferred Compensation Investment Account Plan

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• Control #: US-CC-20-146
• Format: Word; Rich Text

Description

20-146 20-146 . . . Deferred Compensation Investment Account Plan under which Board of Directors of Savings and Loan Association allocates a portion of annual bonuses which would otherwise be paid to selected officers and employees to a separate account. The deferred compensation in such account is deemed, for purposes of Plan only, to represent specified percentages of Association's investments in certain portfolios of equity securities, and it is increased or decreased to same extent as performance of such securities The Nevada Deferred Compensation Investment Account Plan, often referred to as the Nevada CIA, is a retirement savings program available for public employees in the state of Nevada. It is designed to supplement their retirement benefits from the Public Employees' Retirement System (PEERS). The Nevada CIA allows public employees to invest a portion of their salary in different investment options to accumulate a retirement nest egg. One of the main advantages of the Nevada Deferred Compensation Investment Account Plan is its tax-deferred nature. Contributions made by employees are deducted from their income before taxes are applied, reducing their current taxable income. This allows employees to lower their tax burden while simultaneously saving for retirement. The Nevada CIA offers a variety of investment options to suit different risk appetites and investment goals. These options include mutual funds, target-date funds, and fixed income options. Each investment option has its own risk and return characteristics, allowing participants to choose the strategy that aligns with their individual investment preferences. Participants in the Nevada CIA can also take advantage of employer matching contributions, which incentivizes employees to contribute a certain percentage of their salary to maximize their retirement savings. This employer match can significantly boost the growth of the investment account over time. Furthermore, the Nevada Deferred Compensation Investment Account Plan grants participants the flexibility to make changes to their investment allocations and contribution amounts as their financial circumstances evolve. This flexibility enables individuals to adapt their retirement savings strategy over time, ensuring that it remains aligned with their changing needs and goals. Different types of the Nevada Deferred Compensation Investment Account Plan may exist, offering variations in investment options and features. While specific plan names might differ, some common types may include the Core Investment Menu, Socially Responsible Investment Options, and Self-Directed Brokerage Account, among others. These options cater to participants with diverse investment preferences and allow them to customize their retirement savings strategy accordingly. In summary, the Nevada Deferred Compensation Investment Account Plan is a valuable retirement savings program for public employees in Nevada. By offering tax advantages, a range of investment options, and the opportunity for employer matching contributions, the plan empowers participants to grow their retirement savings effectively. Whether through the Core Investment Menu, Socially Responsible Investment Options, or other variations, the Nevada CIA provides public employees with the necessary tools to secure their financial future.

The Nevada Deferred Compensation Investment Account Plan, often referred to as the Nevada CIA, is a retirement savings program available for public employees in the state of Nevada. It is designed to supplement their retirement benefits from the Public Employees' Retirement System (PEERS). The Nevada CIA allows public employees to invest a portion of their salary in different investment options to accumulate a retirement nest egg. One of the main advantages of the Nevada Deferred Compensation Investment Account Plan is its tax-deferred nature. Contributions made by employees are deducted from their income before taxes are applied, reducing their current taxable income. This allows employees to lower their tax burden while simultaneously saving for retirement. The Nevada CIA offers a variety of investment options to suit different risk appetites and investment goals. These options include mutual funds, target-date funds, and fixed income options. Each investment option has its own risk and return characteristics, allowing participants to choose the strategy that aligns with their individual investment preferences. Participants in the Nevada CIA can also take advantage of employer matching contributions, which incentivizes employees to contribute a certain percentage of their salary to maximize their retirement savings. This employer match can significantly boost the growth of the investment account over time. Furthermore, the Nevada Deferred Compensation Investment Account Plan grants participants the flexibility to make changes to their investment allocations and contribution amounts as their financial circumstances evolve. This flexibility enables individuals to adapt their retirement savings strategy over time, ensuring that it remains aligned with their changing needs and goals. Different types of the Nevada Deferred Compensation Investment Account Plan may exist, offering variations in investment options and features. While specific plan names might differ, some common types may include the Core Investment Menu, Socially Responsible Investment Options, and Self-Directed Brokerage Account, among others. These options cater to participants with diverse investment preferences and allow them to customize their retirement savings strategy accordingly. In summary, the Nevada Deferred Compensation Investment Account Plan is a valuable retirement savings program for public employees in Nevada. By offering tax advantages, a range of investment options, and the opportunity for employer matching contributions, the plan empowers participants to grow their retirement savings effectively. Whether through the Core Investment Menu, Socially Responsible Investment Options, or other variations, the Nevada CIA provides public employees with the necessary tools to secure their financial future.