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The 457 plan is a type of nonqualified, tax advantaged deferred-compensation retirement plan that is available for governmental and certain nongovernmental employers in the United States. The employer provides the plan and the employee defers compensation into it on a pre tax or after-tax (Roth) basis.
Deferred compensation is an arrangement in which a portion of an employee's income is paid out at a later date after which the income was earned. Examples of deferred compensation include pensions, retirement plans, and employee stock options.
The New York City Transit Authority (also known as NYCTA, the TA, or simply Transit, and branded as MTA New York City Transit) is a public-benefit corporation in the U.S. state of New York that operates public transportation in New York City.
Total compensation includes salary, bonus, stock and options, deferred compensation, and other compensation like benefits and perks, the report said.
Tax-deferred accounts have two main advantages over typical taxable accounts: First, they lower your annual taxable income when you contribute to them.
If you have a qualified plan and have passed the vesting period, your deferred compensation is yours, even if you quit with no notice on very bad terms. If you have a non-qualified plan, you...
The money came from the city of Baltimore's Deferred Compensation Plan, which employees can only access once they have left their job or are 70.5 years old.
The proposed contract also included a $60 increase per pay period to his deferred compensation account, a cost of $1,560 annually for the city, an item also struck down by the council.
The Metropolitan Transportation Authority (MTA) is a public benefit corporation responsible for public transportation in the New York City metropolitan area of the U.S. state of New York.
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