Fulton Georgia Approval of deferred compensation investment account plan

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Fulton
• Control #: US-CC-20-135-NE
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. Fulton Georgia Approval of Deferred Compensation Investment Account Plan: What You Need to Know The Fulton Georgia Approval of Deferred Compensation Investment Account Plan is a comprehensive retirement savings plan available to employees of Fulton County, Georgia. This plan allows employees to defer a portion of their compensation, reducing their current taxable income and saving for retirement. The approval of this plan is a significant step towards providing employees with a financial tool to enhance their retirement savings. By participating in this plan, Fulton County employees can take control of their financial future and secure a stable retirement. Features of the Fulton Georgia Approval of Deferred Compensation Investment Account Plan include: 1. Tax-Advantaged Investing: This plan offers employees the opportunity to invest their deferred compensation on a pre-tax basis. By deferring part of their income, employees can enjoy potential tax advantages, allowing their savings to grow more efficiently. 2. Investment Options: The plan provides a range of investment options for participants. Employees can choose from a selection of funds, including stocks, bonds, mutual funds, and more. These options offer flexibility to align investments with individual financial goals and risk tolerance levels. 3. Employee Contribution: Employees can contribute a portion of their salary to their deferred compensation investment account. The contributed amount is deducted from an employee's paycheck before taxes, reducing their taxable income for the year. 4. Employer Matching: In some cases, Fulton County may offer an employer match, which can significantly boost an employee's retirement savings. This match is a valuable incentive provided by the county to encourage employees to save for retirement. 5. Portability: The plan also offers portability, allowing employees to take their account with them if they leave employment with Fulton County before retirement. This feature ensures that individuals can continue to manage and grow their savings in a tax-advantaged manner, even if they change jobs. Summary of Different Types of the Fulton Georgia Approval of Deferred Compensation Investment Account Plan: 1. Basic Deferred Compensation Plan: This is the standard plan offered to Fulton County employees. It allows employees to defer a portion of their compensation, invest it in various investment options, and enjoy the tax advantages associated with a deferred compensation account. 2. Executive Deferred Compensation Plan: This specialized plan is typically available to executives or high-level employees within Fulton County. It offers additional benefits and features beyond the basic plan, such as higher contribution limits, unique investment options, and tailored advisory services. 3. Supplemental Deferred Compensation Plan: This plan is designed for employees who wish to contribute additional funds beyond what they can defer under the basic plan. It allows individuals to boost their retirement savings by contributing additional after-tax income. In conclusion, the Fulton Georgia Approval of Deferred Compensation Investment Account Plan provides a valuable opportunity for Fulton County employees to save for retirement in a tax-advantaged manner. With various investment options, employer matching, and portability features, this plan aims to empower employees to build a secure financial future.

Fulton Georgia Approval of Deferred Compensation Investment Account Plan: What You Need to Know The Fulton Georgia Approval of Deferred Compensation Investment Account Plan is a comprehensive retirement savings plan available to employees of Fulton County, Georgia. This plan allows employees to defer a portion of their compensation, reducing their current taxable income and saving for retirement. The approval of this plan is a significant step towards providing employees with a financial tool to enhance their retirement savings. By participating in this plan, Fulton County employees can take control of their financial future and secure a stable retirement. Features of the Fulton Georgia Approval of Deferred Compensation Investment Account Plan include: 1. Tax-Advantaged Investing: This plan offers employees the opportunity to invest their deferred compensation on a pre-tax basis. By deferring part of their income, employees can enjoy potential tax advantages, allowing their savings to grow more efficiently. 2. Investment Options: The plan provides a range of investment options for participants. Employees can choose from a selection of funds, including stocks, bonds, mutual funds, and more. These options offer flexibility to align investments with individual financial goals and risk tolerance levels. 3. Employee Contribution: Employees can contribute a portion of their salary to their deferred compensation investment account. The contributed amount is deducted from an employee's paycheck before taxes, reducing their taxable income for the year. 4. Employer Matching: In some cases, Fulton County may offer an employer match, which can significantly boost an employee's retirement savings. This match is a valuable incentive provided by the county to encourage employees to save for retirement. 5. Portability: The plan also offers portability, allowing employees to take their account with them if they leave employment with Fulton County before retirement. This feature ensures that individuals can continue to manage and grow their savings in a tax-advantaged manner, even if they change jobs. Summary of Different Types of the Fulton Georgia Approval of Deferred Compensation Investment Account Plan: 1. Basic Deferred Compensation Plan: This is the standard plan offered to Fulton County employees. It allows employees to defer a portion of their compensation, invest it in various investment options, and enjoy the tax advantages associated with a deferred compensation account. 2. Executive Deferred Compensation Plan: This specialized plan is typically available to executives or high-level employees within Fulton County. It offers additional benefits and features beyond the basic plan, such as higher contribution limits, unique investment options, and tailored advisory services. 3. Supplemental Deferred Compensation Plan: This plan is designed for employees who wish to contribute additional funds beyond what they can defer under the basic plan. It allows individuals to boost their retirement savings by contributing additional after-tax income. In conclusion, the Fulton Georgia Approval of Deferred Compensation Investment Account Plan provides a valuable opportunity for Fulton County employees to save for retirement in a tax-advantaged manner. With various investment options, employer matching, and portability features, this plan aims to empower employees to build a secure financial future.