Bronx New York Deferred Compensation Investment Account Plan

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Bronx
• 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 Bronx New York Deferred Compensation Investment Account Plan is a retirement savings plan designed specifically for employees of the Bronx, New York government and public agencies. This particular program allows employees to save for retirement on a tax-deferred basis, helping them to secure their financial future. The Bronx New York Deferred Compensation Investment Account Plan offers a range of investment options to participants, allowing them to customize their portfolio based on their risk tolerance and financial goals. These investment options may include stocks, bonds, mutual funds, and other investment vehicles. By offering a diverse range of investment choices, the plan aims to help participants maximize their savings potential and build a robust retirement nest egg. Participants in the Bronx New York Deferred Compensation Investment Account Plan can contribute a portion of their pre-tax salary to the plan, reducing their taxable income and potentially lowering their annual tax bill. This feature allows employees to effectively grow their retirement savings while also benefiting from immediate tax advantages. One of the significant advantages of the Bronx New York Deferred Compensation Investment Account Plan is that it provides participants with the flexibility to manage their investments actively. Participants can monitor the performance of their investment choices, make changes as needed, and take advantage of market opportunities. The plan also offers educational resources and tools to help participants make informed investment decisions, ensuring that they are on the right track towards achieving their retirement goals. It is worth noting that while the Bronx New York Deferred Compensation Investment Account Plan is the primary retirement savings plan for government and public agency employees in the Bronx, there might be variations of the plan available. These variations could include different contribution limits, investment options, or other features that cater to the specific needs of certain employees. In summary, the Bronx New York Deferred Compensation Investment Account Plan offers employees an excellent opportunity to save for retirement with multiple investment options, tax advantages, and the freedom to actively manage their investments. By participating in this plan, employees of the Bronx government and public agencies can take control of their financial future and work towards a secure and comfortable retirement.

The Bronx New York Deferred Compensation Investment Account Plan is a retirement savings plan designed specifically for employees of the Bronx, New York government and public agencies. This particular program allows employees to save for retirement on a tax-deferred basis, helping them to secure their financial future. The Bronx New York Deferred Compensation Investment Account Plan offers a range of investment options to participants, allowing them to customize their portfolio based on their risk tolerance and financial goals. These investment options may include stocks, bonds, mutual funds, and other investment vehicles. By offering a diverse range of investment choices, the plan aims to help participants maximize their savings potential and build a robust retirement nest egg. Participants in the Bronx New York Deferred Compensation Investment Account Plan can contribute a portion of their pre-tax salary to the plan, reducing their taxable income and potentially lowering their annual tax bill. This feature allows employees to effectively grow their retirement savings while also benefiting from immediate tax advantages. One of the significant advantages of the Bronx New York Deferred Compensation Investment Account Plan is that it provides participants with the flexibility to manage their investments actively. Participants can monitor the performance of their investment choices, make changes as needed, and take advantage of market opportunities. The plan also offers educational resources and tools to help participants make informed investment decisions, ensuring that they are on the right track towards achieving their retirement goals. It is worth noting that while the Bronx New York Deferred Compensation Investment Account Plan is the primary retirement savings plan for government and public agency employees in the Bronx, there might be variations of the plan available. These variations could include different contribution limits, investment options, or other features that cater to the specific needs of certain employees. In summary, the Bronx New York Deferred Compensation Investment Account Plan offers employees an excellent opportunity to save for retirement with multiple investment options, tax advantages, and the freedom to actively manage their investments. By participating in this plan, employees of the Bronx government and public agencies can take control of their financial future and work towards a secure and comfortable retirement.