Dallas Texas Deferred Compensation Investment Account Plan

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Dallas
• 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 Dallas Texas Deferred Compensation Investment Account Plan is a retirement savings plan offered to employees of the city of Dallas, Texas. This plan allows participants to defer a portion of their income into a tax-deferred investment account, providing them with an opportunity to save for retirement while potentially lowering their current taxable income. The Dallas Texas Deferred Compensation Investment Account Plan offers various investment options to cater to the diverse needs and risk tolerance levels of its participants. These investment options may include mutual funds, stocks, bonds, and other investment vehicles. Participants can select from a range of investment options based on their individual financial goals and objectives. One type of Dallas Texas Deferred Compensation Investment Account Plan is the Defined Contribution Plan. Under this plan, participants contribute a portion of their pre-tax income into their investment account, and the invested funds grow tax-deferred until retirement. The eventual retirement income is based on the contributions made, investment returns, and other factors, such as the participant's age at retirement. Another type of plan available is the Roth Deferred Compensation Plan. Unlike the traditional pre-tax contribution plan, participants contribute after-tax income into their investment account. While participants do not receive an immediate tax benefit, the funds grow tax-free, and qualified withdrawals made during retirement can be tax-free as well. The Dallas Texas Deferred Compensation Investment Account Plan also offers a range of additional features and benefits to participants. These may include employer match or contribution, allowing employees to receive additional funds to boost their retirement savings. Participants may also have access to educational resources, tools, and seminars to help them make informed investment decisions. The plan provides flexibility in terms of contributions, allowing participants to change their contribution amount or investment allocation as needed. It also offers convenient online access, allowing participants to manage their investments, view account balances, and monitor performance anytime, anywhere. Overall, the Dallas Texas Deferred Compensation Investment Account Plan serves as a valuable retirement savings tool for employees of the city of Dallas. It offers a range of investment options, tax advantages, and flexibility to help participants plan for a secure and comfortable retirement.

Dallas Texas Deferred Compensation Investment Account Plan is a retirement savings plan offered to employees of the city of Dallas, Texas. This plan allows participants to defer a portion of their income into a tax-deferred investment account, providing them with an opportunity to save for retirement while potentially lowering their current taxable income. The Dallas Texas Deferred Compensation Investment Account Plan offers various investment options to cater to the diverse needs and risk tolerance levels of its participants. These investment options may include mutual funds, stocks, bonds, and other investment vehicles. Participants can select from a range of investment options based on their individual financial goals and objectives. One type of Dallas Texas Deferred Compensation Investment Account Plan is the Defined Contribution Plan. Under this plan, participants contribute a portion of their pre-tax income into their investment account, and the invested funds grow tax-deferred until retirement. The eventual retirement income is based on the contributions made, investment returns, and other factors, such as the participant's age at retirement. Another type of plan available is the Roth Deferred Compensation Plan. Unlike the traditional pre-tax contribution plan, participants contribute after-tax income into their investment account. While participants do not receive an immediate tax benefit, the funds grow tax-free, and qualified withdrawals made during retirement can be tax-free as well. The Dallas Texas Deferred Compensation Investment Account Plan also offers a range of additional features and benefits to participants. These may include employer match or contribution, allowing employees to receive additional funds to boost their retirement savings. Participants may also have access to educational resources, tools, and seminars to help them make informed investment decisions. The plan provides flexibility in terms of contributions, allowing participants to change their contribution amount or investment allocation as needed. It also offers convenient online access, allowing participants to manage their investments, view account balances, and monitor performance anytime, anywhere. Overall, the Dallas Texas Deferred Compensation Investment Account Plan serves as a valuable retirement savings tool for employees of the city of Dallas. It offers a range of investment options, tax advantages, and flexibility to help participants plan for a secure and comfortable retirement.