Employers are focused on upgrading their nonqualified deferred compensation retirement plans in the ongoing tight labor market, to the benefit of key executives and higher-paid employees, according to a Willis Towers Watson survey released Wednesday.

Of 396 U.S. employers surveyed, three-quarters (75%) either made changes to their nonqualified defined contribution retirement plans in the last two years or plan to make changes in the next two years, the advisory and brokerage found. Employers with defined benefit plans clocked in a bit lower, with 55% either having made changes in the past two years or having plans to in the next two years. READ MORE