A well-designed nonqualified deferred compensation plan can provide attractive supplemental retirement benefits to executives who have “maxed out” their qualified plan contributions. It can be a much needed incentive for employers to attract and retain these individuals. Unlike qualified plans, the nonqualified plan can be custom-designed to fill the unique needs of different executives and employers.
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The information contained herein is based on our current understanding of federal tax and state insurance laws as they relate to life insurance, annuities, ERISA qualifies retirement plans or other subject matter discussed.
These laws are subject to change in the future. Turtle Creek Financial Group and or its associates do not provide tax or legal advice.
Please consult your own advisors for legal, tax or accounting advice.