2518 requirements, then it is a nonqualified
As plan sponsors may realize their plan does not facilitate such savings rates, either because of testing failures or Internal Revenue Service (IRS) savings limits-$18,000 a year, or $24,000 for those 50 and older-they are increasingly considering nonqualified
deferred compensation (NQDC) plans for their top employees, says Gary Dorton, vice president of nonqualified
solutions and services at Principal Financial Group, in Raleigh, North Carolina.
One way to bridge this gap is by offering a nonqualified
deferred compensation plan, which allows compensation earned in one year to be set aside and paid in a later year.
The traditional nonqualified
deferred compensation plan is a legally binding contractual agreement (plan) between an employer and one or more of its key personnel or independent contractors.
More than three-quarters (78%) of nonqualified
retirement plan sponsors surveyed indicated they have some concerns and challenges with their plans.
This new rider, available with Executive Variable Universal Life II (Executive VUL II), brings new choice and flexibility for employers looking to informally finance their nonqualified
deferred compensation (NQDC) plans.
For the S Corp owner, any salary or bonus deferral into a nonqualified
deferred compensation raises the company's taxable revenue.
com)-- Nolan Financial, a leading provider of Nonqualified
Retirement Plans, Bank Owned Life Insurance (BOLI) consulting, funding and record keeping services, launched its new responsive website design, http://www.
7 December 2012 - More employers say recruitment and retention are among the top reasons for offering nonqualified
deferred compensation plans to their key employees.
Market headwinds have led some financial professionals to question the role of nonqualified
deferred compensation (NQDC) plans in their business practice.
Section 409A of the Internal Revenue Code continues to drive the creation, implementation--and correction--of nonqualified
deferred compensation plans.
The seventh edition of this reference on nonqualified
deferred compensation plans includes detailed examinations of current and significant legislative, regulatory, and case law affecting nonqualified