Fairfax Virginia Deferred Compensation Investment Account Plan

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Fairfax
• 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 Fairfax Virginia Deferred Compensation Investment Account Plan is a retirement savings program offered to employees who work for Fairfax, Virginia. This plan provides participants with the opportunity to defer a portion of their salary into a tax-deferred investment account, allowing them to save for retirement while potentially reducing their current taxable income. The Fairfax Virginia Deferred Compensation Investment Account Plan offers several investment options to meet the unique needs and risk tolerances of individual participants. By allocating their contributions among these options, participants can design a personalized investment strategy that aligns with their retirement goals. Some investment options available within the Fairfax Virginia Deferred Compensation Investment Account Plan include: 1. Mutual Funds: Participants can choose from a wide range of mutual funds, which are professionally managed investment pools that invest in various asset classes such as stocks, bonds, or a combination of both. These funds allow participants to diversify their investment portfolio and potentially earn higher returns. 2. Fixed Income Funds: These funds invest in fixed-income securities such as government or corporate bonds. They offer a lower-risk investment option and are suitable for participants who have a more conservative investment approach or are nearing retirement. 3. Target-Date Funds: These funds are designed for participants who want a simple and hassle-free investment strategy. Target-date funds automatically adjust their asset allocation over time, becoming more conservative as the participant approaches the target retirement date. 4. Employer Stock: In some cases, the Fairfax Virginia Deferred Compensation Investment Account Plan may allow participants to invest a portion of their contributions in the employer's stock. This provides participants with the opportunity to share in the success of the organization they work for. Participants in the Fairfax Virginia Deferred Compensation Investment Account Plan can make contributions through convenient payroll deductions. The plan also provides additional benefits such as the ability to make catch-up contributions for those nearing retirement age, and the option to take loans or withdrawals under certain circumstances. It is important for participants to review the plan's terms, conditions, and investment options carefully before making any investment decisions. It is recommended that individuals consult with a financial advisor or explore the plan's educational resources to ensure they make informed choices that align with their overall financial goals.

The Fairfax Virginia Deferred Compensation Investment Account Plan is a retirement savings program offered to employees who work for Fairfax, Virginia. This plan provides participants with the opportunity to defer a portion of their salary into a tax-deferred investment account, allowing them to save for retirement while potentially reducing their current taxable income. The Fairfax Virginia Deferred Compensation Investment Account Plan offers several investment options to meet the unique needs and risk tolerances of individual participants. By allocating their contributions among these options, participants can design a personalized investment strategy that aligns with their retirement goals. Some investment options available within the Fairfax Virginia Deferred Compensation Investment Account Plan include: 1. Mutual Funds: Participants can choose from a wide range of mutual funds, which are professionally managed investment pools that invest in various asset classes such as stocks, bonds, or a combination of both. These funds allow participants to diversify their investment portfolio and potentially earn higher returns. 2. Fixed Income Funds: These funds invest in fixed-income securities such as government or corporate bonds. They offer a lower-risk investment option and are suitable for participants who have a more conservative investment approach or are nearing retirement. 3. Target-Date Funds: These funds are designed for participants who want a simple and hassle-free investment strategy. Target-date funds automatically adjust their asset allocation over time, becoming more conservative as the participant approaches the target retirement date. 4. Employer Stock: In some cases, the Fairfax Virginia Deferred Compensation Investment Account Plan may allow participants to invest a portion of their contributions in the employer's stock. This provides participants with the opportunity to share in the success of the organization they work for. Participants in the Fairfax Virginia Deferred Compensation Investment Account Plan can make contributions through convenient payroll deductions. The plan also provides additional benefits such as the ability to make catch-up contributions for those nearing retirement age, and the option to take loans or withdrawals under certain circumstances. It is important for participants to review the plan's terms, conditions, and investment options carefully before making any investment decisions. It is recommended that individuals consult with a financial advisor or explore the plan's educational resources to ensure they make informed choices that align with their overall financial goals.