NFP, a leading benefits consultant, property and casualty broker, wealth manager and retirement plan advisor, reported findings today from its inaugural Executive Benefits Trends Study. In a notable show of effectiveness, 92% of the study's respondents said offering a nonqualified deferred compensation (NQDC) plan helps them retain their top executive talent, with 93% ranking executive retention as important or critical to their company's success.
The survey also revealed employers have opportunities to improve their NQDC plans, including driving higher usage and better long-term outcomes. Respondents reported their NQDC plan eligibility rates have increased by 45% since 2020, a favorable trend, but have only seen a 32% increase in participation rates over the same period. Most respondents seem content with the status quo of their NQDC plans, as only a limited number (25%) intend to make adjustments in the near-term that could increase their appeal. READ MORE