Common Contracts
1 similar Deferred Compensation Plan Agreement contracts
ContractDeferred Compensation Plan Agreement • August 16th, 2002
Any municipality, county, or an authority created by one or more counties or municipalities (hereinafter "employer" ) may establish a deferred compensation plan (hereinafter "plan" ), and a sponsoring agency, pursuant to P.L.1997, c.388 (C.40A:14-183), may establish a length of service award program based on such plan, whereby the employer may enter into a written agreement with any of its employees (hereinafter "participants" ) constituting a contract for a voluntary deferral of salary. Such contract shall remain in effect until the employee's service is terminated or until a new contract is executed by the employee and employer. Not more than one contract shall be executed in any one fiscal year of the employer with any one employee. Pursuant to such contract the employer shall credit from time to time a specific amount per pay period, as deferred salary, to a participant's account. This account shall be known as the Employee's Deferred Salary Account, and shall be credited from time
