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The State of Oregon 457(b) Deferred Compensation Plan, known as the Oregon Savings Growth Plan (or OSGP), is provided to state and other eligible public sector employees as a supplement to the defined benefit (pension) mandatory to all PERS participants.
Deferred compensation is also sometimes referred to as deferred comp, qualified deferred compensation, DC, non-qualified deferred comp, NQDC, or golden handcuffs. Deferred compensation is only available to employees of public entities, senior management, and other highly compensated employees of companies. Although DC is not restricted to ...
Deferred compensation is a way for employees to reduce their tax burden while ensuring their economic security in their golden years. Deferred compensation plans with a long vesting period are ...
As a result, many governmental employers have now set up 457 and 401(k) plans for their employees, and nonprofit employers have set up 403(b) and 457 plans, each allowing their employees to invest in both. Some state universities and school districts have access to all three tax-deferred plans. However, the total combined annual contribution to ...
This includes around 2.4 million shares of the company, valued at $109.9 million, a $19.9 million pension and $4.4 million in deferred compensation. Prior to the controversy, Stumpf had one of the ...
A non-qualified deferred compensation plan or agreement simply defers the payment of a portion of the employee's compensation to a future date. The amounts are held back (deferred) while the employee is working for the company, and are paid out to the employee when he or she separates from service, becomes disabled, dies, etc.
In the United States, a 403(b) plan is a U.S. tax-advantaged retirement savings plan available for public education organizations, some non-profit employers (only Internal Revenue Code 501(c)(3) organizations), cooperative hospital service organizations, and self-employed ministers in the United States. [1]
The Department of Labor and Industries was created by an act of the state legislature in 1921, overseeing industrial insurance, worker safety, and industrial relations. [2] [3] The new agency superseded the Bureau of Labor, created in 1901 to inspect workplaces, and minor state boards and commissions monitoring worker health, safety, and insurance claims.