Deferred compensation plan
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Deferred compensation plan is an employee pension program. A pension program that allows an employee to contribute a portion of income over time to be paid as a lump sum at retirement when the employee's income tax rate will probably be lower.
Definition
According to the HRBoK Guide,
- Deferred compensation plan. An employee pension program. A pension program that allows an employee to contribute a portion of income over time to be paid as a lump sum at retirement when the employee's income tax rate will probably be lower.
