Nonqualified deferred compensation (NQDC) retirement plans are becoming more popular than ever in response to ongoing labor challenges.
Many companies offer NQDC plans as a retirement benefit for executive-level employees because IRS contribution limits make 401(k) plans inadequate on their own for many high earners. NQDC plans allow these high-earning employees to set aside more of their income to receive at a later date while also deferring the income tax on those earnings. READ MORE