What is Nonqualified Deferred Compensation and Why Do Companies Use It?

What is Nonqualified Deferred Compensation and Why Do Companies Use It?

Fulcrum Partners. Deferred Compensation News

A nonqualified deferred compensation plan (NQDC) is an unsecured promise made by an employer to pay compensation to key employees at a prespecified time in the future or upon the occurrence of a predetermined event. An NQDC plan is also one of the most powerful tools available to employers for recruiting, retaining, and rewarding key employees.

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Electronic Disclosure Safe Harbor for Retirement Plans

Fulcrum Partners. Human Resources

Last week, the Department of Labor (DOL) finalized regulations for the new “notice and access” safe harbor for retirement plans. Known as “NOA Safe Harbor,” the new guidelines permit plan administrators to send required disclosures to plan participants and beneficiaries via email or other electronic means, including allowing employers to post retirement plan disclosures online.

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Updates on Retirement Plans and the Use of a Limited Scope Audit

Fulcrum Partners. Executive Benefits News

Insights from SRP | Strategic Retirement Partners:   Change is Coming if Your Plan Uses a Limited Scope Audit The American Institute of Certified Public Accountants, Inc. (AICPA) issued a new statement in July changing the requirements for its members that perform retirement plan audits. Previously, if a large plan utilized the limited scope audit option, the auditor effectively could …

NQDC Plan Compliance with ERISA

For an NQDC Plan, Being Subject to ERISA May Be A Good Thing

Fulcrum Partners. Deferred Compensation News

This Sixth Circuit Court of Appeals decision involving a nonqualified deferred compensation plan (NQDC) shows why it can be important for a nonqual plan to comply with Internal Revenue Code Section 409A compliance and the Employee Retirement Income Security Act of 1974 (ERISA) claims procedures. Fulcrum Partners shares these important insights from attorneys Greg Daugherty and Dave Tumen of Porter Wright, first …

Plan Sponsor Decisions

Plan Sponsor Decisions: Because Life Really IS Like a Box of Chocolates

Fulcrum Partners Executive Benefits News

Deferred Compensation News is pleased to share these insights from our friends at Strategic Retirement Partners (SRP) Plan Sponsor Decisions: How Many Investment Options Should You Offer? Often a plan sponsor struggles with deciding how many investment options to offer in their retirement plans. While people generally like to have lots of options when making other decisions, having too many …

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Retirement Plan Review Checklist

Fulcrum Partners. Deferred Compensation News

Sharing this handy Plan Review Checklist from our strategic advertising partners, SRP, Strategic Retirement Partners. Spring Cleaning for Your Retirement Plan Spring is in the air and now could be a great time to do a little spring cleaning for your retirement plan. Here are a few quick things you can do help ensure your plan is in tip top …

Fiduciary Excellence Fulcrum Partners

Congratulations SRP, Awarded Fiduciary Excellence Certification

Fulcrum Partners Leadership

Strategic Retirement Partners has been honored with a Certification of Fiduciary Excellence. The award, presented by the Centre for Fiduciary Excellence (CEFEX), honors demonstrated adherence to fiduciary best practices. As part of the award process, Strategic Retirement Partners was subject to a rigorous, multi-month audit and certification protocol, guided by the “Prudent Practices® for Investment Advisors”, an industry-recognized handbook that …

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#ICYMI Understanding Top Hat Plans

Fulcrum Partners. Executive Benefits News

Don’t Put Away Your New Year’s Eve Top Hat Just Yet! Over the past five-plus years of publishing Deferred Compensation News, (previously known as Fulcrum Partners News), no topic has ever attracted as many views or as much traffic as that of “Top Hat Plans.” In November 2018, the AALU Washington Report addressed some of the challenges and lack of clear …