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<br /> I <br /> I <br /> DEFERRED COMPENSATION/ICMA .. <br /> Regularfull-time employees are eligible to participate in the Deferred Compensation Plan. <br /> This voluntary supplemental retirement plan allows you to have part of your salary <br /> withheld and invested for payment to you upon termination. The deferred amount and I <br /> the interest earned on investment are not subject to current State or Federal income tax. <br /> When you receive the money, it will be taxed as ordinary income based on regular W-4 <br /> with holdings. The City's Deferred Compensation Plan is regulated by the Internal I <br /> Revenue Service (IRS 457). <br /> You may defer up to twenty-five (25%) of your salary up to an I.R.S. maximum in anyone I <br /> calendar year. Three years prior to retirement, you may defer an additional amount under <br /> a catch-up provision. <br /> I <br /> I <br /> I <br /> ~ <br /> I <br /> I <br /> - <br /> I <br /> I <br /> I <br /> I <br /> I <br /> .. <br /> I <br />