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Eligibility - All permanent
full-time and/or part-time employees who work at least 25 hours per
week. No waiting period.
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A plan which permits you, on a
voluntary basis, to authorize up to $11,000 of gross compensation
(whichever is less) per year to be withheld and invested form
payment to you at a later date. Neither the deferred amount
nor the earnings on the investments are subject to Federal Income
Tax until withdrawl. Taxes become payable when the deferred
income plus earnings are distributed to you at termination, or
presumably, at retirement when you are in lower tax bracket.
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Your taxable income is reduced by
the amount of money you defer.
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You have the flexibility to
start/stop, increase or decrease amounts.
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Full range of investment choices.
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The ability to change investment
choices and amounts within them with a simple phone call.
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A variety of annuity payout
options to meet your retirement income needs.
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Amounts you receive from Deferred
Compensation when you retire will not reduce your Social Security
benefits.
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Toll-free information and
transaction services.
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Local representatives - individual
consultants.
