King Washington Deferred Compensation Investment Account Plan

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: King
• 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 King Washington Deferred Compensation Investment Account Plan is a retirement savings option offered to employees of King Washington, a company in the financial industry. With this plan, employees have the opportunity to defer a portion of their salary into an investment account, allowing them to save for retirement while potentially benefiting from market growth. One of the key advantages of the King Washington Deferred Compensation Investment Account Plan is its tax-deferred nature. Contributions made by employees are typically deducted from their salary before taxes are applied, helping to reduce their taxable income. This results in potential immediate tax savings for participants, allowing their investments to potentially grow faster over time. The plan offers several investment options to participants, ensuring that individuals can choose investments that align with their risk appetite and long-term goals. The investment options may include a range of asset classes such as stocks, bonds, mutual funds, and index funds. The account may also provide a variety of portfolio models to suit different investment preferences, such as conservative, moderate, or aggressive strategies. The King Washington Deferred Compensation Investment Account Plan may also offer additional benefits such as an employer matching contribution. Some plans provide a certain percentage-based employer match, helping employees grow their retirement savings even more quickly. This employer contribution is often subject to vesting requirements, which means that participants may need to remain with the company for a specific number of years to fully claim the employer's contributions. Employees can typically manage their King Washington Deferred Compensation Investment Account Plan online, allowing easy access and flexibility to make account adjustments as needed. This enables participants to monitor their account balance, track investment performance, and make changes to their investment allocations based on their evolving financial situation or retirement goals. It's worth noting that the King Washington Deferred Compensation Investment Account Plan may have different variations or types, depending on the specific needs and preferences of employees. These variations might include options such as a Roth 401(k), which allows participants to make after-tax contributions with the potential for tax-free withdrawals during retirement. Additionally, a 457 plan might be available, which is specifically designed for employees of local and state governments, as well as certain non-profit organizations. In summary, the King Washington Deferred Compensation Investment Account Plan offers employees a valuable opportunity to save for retirement with potential tax advantages and various investment options. By deferring a portion of their salary into the account, participants can build a nest egg that may grow over time and provide financial security during their retirement years.

The King Washington Deferred Compensation Investment Account Plan is a retirement savings option offered to employees of King Washington, a company in the financial industry. With this plan, employees have the opportunity to defer a portion of their salary into an investment account, allowing them to save for retirement while potentially benefiting from market growth. One of the key advantages of the King Washington Deferred Compensation Investment Account Plan is its tax-deferred nature. Contributions made by employees are typically deducted from their salary before taxes are applied, helping to reduce their taxable income. This results in potential immediate tax savings for participants, allowing their investments to potentially grow faster over time. The plan offers several investment options to participants, ensuring that individuals can choose investments that align with their risk appetite and long-term goals. The investment options may include a range of asset classes such as stocks, bonds, mutual funds, and index funds. The account may also provide a variety of portfolio models to suit different investment preferences, such as conservative, moderate, or aggressive strategies. The King Washington Deferred Compensation Investment Account Plan may also offer additional benefits such as an employer matching contribution. Some plans provide a certain percentage-based employer match, helping employees grow their retirement savings even more quickly. This employer contribution is often subject to vesting requirements, which means that participants may need to remain with the company for a specific number of years to fully claim the employer's contributions. Employees can typically manage their King Washington Deferred Compensation Investment Account Plan online, allowing easy access and flexibility to make account adjustments as needed. This enables participants to monitor their account balance, track investment performance, and make changes to their investment allocations based on their evolving financial situation or retirement goals. It's worth noting that the King Washington Deferred Compensation Investment Account Plan may have different variations or types, depending on the specific needs and preferences of employees. These variations might include options such as a Roth 401(k), which allows participants to make after-tax contributions with the potential for tax-free withdrawals during retirement. Additionally, a 457 plan might be available, which is specifically designed for employees of local and state governments, as well as certain non-profit organizations. In summary, the King Washington Deferred Compensation Investment Account Plan offers employees a valuable opportunity to save for retirement with potential tax advantages and various investment options. By deferring a portion of their salary into the account, participants can build a nest egg that may grow over time and provide financial security during their retirement years.