What type of compensation could be received after retirement?

Deferred compensation refers to earnings that are set aside to be paid out at a later date, typically after an employee has retired. This can include retirement accounts, pensions, or other financial benefits that are not distributed until retirement, allowing employees to save and defer tax liabilities until they withdraw the funds later in life. This type of compensation aligns with retirement plans where employees have contingency benefits retrieved based on specific stipulations set forth prior to their retirement, making it an integral part of retirement income strategies.

In contrast, hourly wages and incentive pay are forms of direct compensation typically received during employment, while employee bonuses are often awarded in recognition of performance or achievement during an employee's active years rather than as a continuation of pay after retirement.