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LSDefine

Simple English definitions for legal terms

CODA

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A quick definition of CODA:

Term: CODA

Definition: CODA stands for Cash or Deferred Arrangement. It is a type of retirement plan where you can choose to receive your money now or defer it until later. This means you can either get paid right away or save your money for when you retire. It's like having a piggy bank that you can choose to open now or later.

A more thorough explanation:

Definition: CODA stands for Cash or Deferred Arrangement. It is a type of retirement savings plan that allows employees to choose between receiving cash payments or deferring a portion of their salary into a retirement account.

Example: An employee may choose to defer 5% of their salary into a 401(k) plan, which is a type of CODA. This means that instead of receiving that 5% as part of their regular paycheck, it will be deposited into their retirement account. The employee may also have the option to receive a cash bonus instead of deferring any portion of their salary.

Explanation: The example illustrates how a CODA works by showing how an employee can choose to defer a portion of their salary into a retirement account instead of receiving it as cash. This allows the employee to save for retirement while also potentially reducing their taxable income. The cash bonus option shows that the employee has a choice between receiving cash or deferring their salary, which is a key feature of a CODA.

C.O.D. | Code Civil

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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