Ep 147 : Nonqualified Plans – A Key Benefit for Top Executives

About This Episode

In today’s episode, Patti welcomes Josh Owen, Regional Vice President at Principal Financial Services into the studio to discuss nonqualified deferred compensation plans.  These are popular benefits that provide key high earning employees with a tax advantaged way to build retirement savings. This is a powerful tool to help CEOs recruit, retain and reward executives. There are many governmental taxation rules that restrict the amount of money these highly compensated employees can contribute to tax deferred plans, like a 401K, so these deferred compensation plans can give serious recruiting and retention advantages to CEOs. Patti and Josh’s review of the advantages and disadvantages of these plans will help any business owner determine if this is a beneficial tool for retaining their top earning employees.