Deferred compensation allows individuals to delay receiving part of their income until a future date, often during retirement. This strategy is appealing for retirement savings and tax management, as ...

South Carolina offers a deferred compensation program that allows public-sector employees to set aside a portion of their income to be paid out at a later date, typically during retirement.

Background: Why was Section 409A of the Internal Revenue Code enacted? Prior to the enactment of Section 409A, no single section of the Internal Revenue Code governed taxation of nonqualified deferred ...