Oklahoma 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 Oklahoma Deferred Compensation Investment Account Plan is a retirement savings plan designed specifically for public employees in the state of Oklahoma. It aims to provide individuals with an additional source of income during their retirement years, enabling them to live comfortably and enjoy financial security. The Oklahoma Deferred Compensation Investment Account Plan offers several benefits that make it an attractive option for state employees. One key advantage is the ability to contribute to the plan with pre-tax dollars, meaning that participants can reduce their taxable income and potentially lower their overall tax liability. Additionally, any investment earnings within the account are tax-deferred until distribution, allowing for potential growth over time. Participants in the Oklahoma Deferred Compensation Investment Account Plan have a variety of investment options available to them. These options include mutual funds, fixed income funds, money market funds, and target date funds. Each of these investment options carries different levels of risk and potential returns, allowing participants to customize their investment strategy according to their own risk tolerance and retirement goals. Moreover, the Oklahoma Deferred Compensation Investment Account Plan also provides participants with access to educational resources and financial planning tools. These resources can help individuals make informed investment decisions and maximize the growth potential of their retirement savings. There are different types of accounts within the Oklahoma Deferred Compensation Investment Account Plan. The most common type is the 457(b) plan, which is available to state and local government employees, including teachers, police officers, firefighters, and other public servants. Additionally, there is a separate 401(k) plan available for university and college employees. In conclusion, the Oklahoma Deferred Compensation Investment Account Plan is a retirement savings program tailored for public employees in Oklahoma. With its attractive tax advantages, diverse investment options, and educational resources, it provides individuals with a valuable tool to save for a secure and comfortable retirement. Whether one is a teacher, police officer, firefighter, or other public servant, the plan offers a range of benefits and options to suit their specific needs and goals.

The Oklahoma Deferred Compensation Investment Account Plan is a retirement savings plan designed specifically for public employees in the state of Oklahoma. It aims to provide individuals with an additional source of income during their retirement years, enabling them to live comfortably and enjoy financial security. The Oklahoma Deferred Compensation Investment Account Plan offers several benefits that make it an attractive option for state employees. One key advantage is the ability to contribute to the plan with pre-tax dollars, meaning that participants can reduce their taxable income and potentially lower their overall tax liability. Additionally, any investment earnings within the account are tax-deferred until distribution, allowing for potential growth over time. Participants in the Oklahoma Deferred Compensation Investment Account Plan have a variety of investment options available to them. These options include mutual funds, fixed income funds, money market funds, and target date funds. Each of these investment options carries different levels of risk and potential returns, allowing participants to customize their investment strategy according to their own risk tolerance and retirement goals. Moreover, the Oklahoma Deferred Compensation Investment Account Plan also provides participants with access to educational resources and financial planning tools. These resources can help individuals make informed investment decisions and maximize the growth potential of their retirement savings. There are different types of accounts within the Oklahoma Deferred Compensation Investment Account Plan. The most common type is the 457(b) plan, which is available to state and local government employees, including teachers, police officers, firefighters, and other public servants. Additionally, there is a separate 401(k) plan available for university and college employees. In conclusion, the Oklahoma Deferred Compensation Investment Account Plan is a retirement savings program tailored for public employees in Oklahoma. With its attractive tax advantages, diverse investment options, and educational resources, it provides individuals with a valuable tool to save for a secure and comfortable retirement. Whether one is a teacher, police officer, firefighter, or other public servant, the plan offers a range of benefits and options to suit their specific needs and goals.