I've been in the cisco deferred compensation plan for years - built up a nice $10m nest egg in deferred comp and deferred RSU's thanks to the generosity of the company. NOW they are changing the plan parameters??? Anyone else agree this is AWFUL
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What was the change?
"It's a perk to defer additional income until retirement like a 401k."
Not until retirement, only until you leave Cisco. And you have to elect what kind of payout schedule you want (lump sum, yearly payments, quarterly payments, etc.) at the time when you defer. It can be quite helpful if Cisco is your last job before retirement and you spread your payout over multiple years. Or you can really get screwed on taxes. For example, the gentleman with $10m in the deferred account can be in for $5m in federal and state taxes if he elected a lump sum payout...
yes, you can defer RSUs. dunno if the OP does this but I do. great perk. defer a good chunk of my bonus as well.
Funny how progressive execs like to have exclusive ways to avoid progressive taxation.
You bought into that deferred compensation program? Sucks to be you, man. I never would keep my money with Cisco.
Seriously. I would be retired at this point in a low cost of living area. Of course with these plans now you are possibly looking at a major tax bill. To be sure you are not working for fun...
I don't think RSUs can be deferred. Just base salary and cash bonuses
Pfffff. All you haters are just mad. Clearly jealous of their nice $10m nest egg in deferred comp and deferred RSU's thanks to the generosity of the company.
I haven’t seen any changes to the plan. Can you be specific?
$10M Venezuela bolivars, that is.
If I had a $10M nest egg, I wouldn't be on here griping, I'd be retired at my dream location and enjoying it!
According the the deferred comp plan filed with the SEC, “Participation in Plan shall be limited to a select group of management or highly compensated Employees. From that group, the Committee shall select, in its sole discretion, those individuals who may actually participate in this Plan.”
Those selected for the plan aren’t on this board. Go troll somewhere else.
Why the he-l would you still be here if that is true? Nuts. Troll.
If you're vaccinated, I have sympathy for you. If you are antivax you can curl up and d1e.
LIAR
It's a perk to defer additional income until retirement like a 401k. Another perk Cisco offers to some employees is mortgage assistance or subsidized housing.
What are you talking about?