Amounts deferred are before taxes and any investment earnings on these deferred amounts are allowed to accumulate without being subject to current Federal income tax. Investment options include fixed annuities, variable annuities, savings accounts, and mutual funds. The coursework must be related to the employee's occupational field. Direct Deposit Salary payments are electronically transferred into an account at a bank,savings and loan association, or credit union. With direct deposit, payments are credited on the payment date.
Direct deposit frees an employee from standing in line and ensures against lost or stolen checks.