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Borrowing from your Deferred Compensation Account State of New Mexico Deferred Compensation Planeload Programming employers are faced with the same question from employees: Why can't I use my money

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What is deferred compensation account?

Deferred compensation account is a type of retirement savings plan where a portion of an employee's income is set aside for future use.

Who is required to file deferred compensation account?

Employees who have agreed to participate in a deferred compensation plan are required to file deferred compensation account.

How to fill out deferred compensation account?

Employees can fill out deferred compensation account by providing information about their contributions, investment options, and beneficiary designations.

What is the purpose of deferred compensation account?

The purpose of deferred compensation account is to help employees save for retirement and defer taxes on their contributions until withdrawal.

What information must be reported on deferred compensation account?

Information such as contribution amounts, investment earnings, and beneficiary details must be reported on deferred compensation account.

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