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.
In case you were enjoying the long President’s Day weekend and missed it, here’s the report Fulcrum Partners released last week: “Impact of the SECURE Act 2019 on NQDC Plans and Retirement Distribution Elections.” The white paper, by Bruce Brownell and the team at Fulcrum Partners, is available to view or download as a PDF. As the report explains, the …
Since the SECURE Act (Setting Every Community Up for Retirement Enhancement) was signed into law by President Donald Trump on December 20, 2019, much of the resulting conversation has focused on how the new law effects various aspects of 401(k) plans. Fulcrum Partners, a leading U.S. executive benefits advisory, has released a report focused on other important implications of the SECURE Act, specifically how it may impact nonqualified deferred compensation (NQDC) plans and retirement distribution elections.
