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In 2004, Congress passed a tax act that added Section 409A to the tax code and applies to deferred nonqualified compensation, which also covers some 457(f) plans. This was in response to the executive bonus plans given to key employees at Enron , which allowed them early access to their deferred compensation if financial conditions of the ...
Deferred compensation plans are either qualified or non-qualified plans. Which one you have will affect how your plan’s funds are treated if you quit. Qualified Plans
Deferred compensation is an arrangement in which a portion of an employee's wage is paid out at a later ... and put $57,500 into his account and $7,500 into the clerk ...
The JTA is governed by a seven-member Board of Directors. The mayor of Jacksonville appoints three members who must be confirmed by the Jacksonville City Council; the Florida Governor appoints three members who must be confirmed by the Florida Senate. Each member serves a four-year, unpaid term and can be re-appointed for a second term.
The city of Jacksonville is home to the Duval County Courthouse. The previous courthouse was constructed in 1958, and the county's population has grown by more than 50% in the past forty years. A new $190 million Duval County Courthouse was a key component of the Better Jacksonville Plan , approved by voters in 2000.
The Better Jacksonville Plan financed $105 million to resurface streets in Jacksonville that had not been paved since 1985. The Department of Public Works paved nearly 1,800 miles of streets before it ended in September, 2007. The plan also financed $20 million to fund construction of new neighborhood sidewalks.
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.
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