Deferred Compensation Program Clause Samples
A Deferred Compensation Program clause establishes the terms under which an employee or executive can postpone receiving a portion of their earned income until a later date, typically retirement or separation from the company. This clause outlines eligibility, the types of compensation that can be deferred (such as bonuses or salary), and the timing and method of future payments. By allowing employees to defer income, the clause provides tax planning advantages and helps employers retain key personnel by offering long-term financial incentives.
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Deferred Compensation Program. Unit members shall continue to be eligible to join the County’s Deferred Compensation Plan. Said employees will be bound by the same Plan, rules and participation agreements as are generally applicable to other County employees. DSA acknowledges that County retains the right to alter, amend, or repeal the current plan, rules, and participation agreements, at any time. The County shall not charge an administrative fee to participating employees.
Deferred Compensation Program. The Executive will be eligible to participate in the Company's Executive Deferred Compensation Program (or any successor deferred compensation program) (the "Deferred Compensation Program") in accordance with the terms and conditions of the Deferred Compensation Program.
Deferred Compensation Program. Early and Family Education teachers may elect to participate in a deferred compensation plan pursuant to Section 457(b) and 403(b) of the Internal Revenue code and subject to applicable provisions of Minnesota Statutes. Early and Family Education teachers may participate in the deferred compensation program with one or more of the companies designated as a School Board approved investment provider.
Deferred Compensation Program. Pursuant to and in accordance with applicable federal laws and regulations, the Employer agrees to maintain Deferred Compensation Program(s). Participation in the program is voluntary.
Deferred Compensation Program. The City shall allow employees covered by this Agreement to participate in the Deferred Compensation Program.
Deferred Compensation Program. EMPLOYEE shall be allowed to participate in EMPLOYER's Deferred Compensation Program as said program may be in effect or amended from time to time.
Deferred Compensation Program. Employee shall be allowed to participate in the Deferred Compensation Program as is in effect from time to time.
Deferred Compensation Program. The County agrees to permit withholding for employee participation in the Washington County deferred compensation program or programs.
Deferred Compensation Program. The City shall allow commanding officers to participate in a City Deferred Compensation Program that is currently available to employees. However, if the program is determined not to be allowable as a tax deferral under the Internal Revenue Code, the participating commanding officer shall hold the City and the Association harmless against any and all claims, demands, or other forms of liability arising as a result of any invalidation of the terms and conditions of the Program.
Deferred Compensation Program. Employees shall be afforded the option of entering into a retirement program governed by the Internal Revenue Code 457. In addition to the plans already provided by the City, the City shall make available the IAFF Financial Corporation 457 Plan. Members will be entitled to transfer 457 plan assets to the plan of choice upon approval of the Deferred Compensation Committee.