Non-Qualified Deferred Compensation Plans
Are you a business owner looking for innovative ways to retain your top talent and reduce your tax liability?
Lions Financial can provide you with a holistic solution for non-qualified deferred compensation plans. Our four-step SIRE Process includes a comprehensive survey, industry insights, tailored recommendations, and professional execution to help you achieve business success. We can help you create value for both key employees and your company.
Frequently Asked Questions
A non-qualified deferred compensation plan is a plan that allows companies to provide key employees with a beneficial tax-deferred savings vehicle. It can help retain top talent and reduce tax liability.
There are typically three types of deferred compensation plans: Supplemental Executive Retirement Plan, Deferred Income Plan, and Nonqualified 401(k) Look-a-Like Plan.
The process includes selecting key employees who qualify for the plan, forming a written plan agreement between the employer and key employee, determining the financial vehicle for the key employee, and making agreed-upon contributions to the employee’s plan.
We can provide you with a holistic solution for non-qualified deferred compensation plans through our four-step SIRE Process, which includes a comprehensive survey, industry insights, tailored recommendations, and professional execution.
