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McMill Building
125 S. 4th Street
Norfolk, NE 68701
Phone: 402-371-1160
Toll Free: 800-694-1160
Website: www.mcmill.info
When companies offer employees deferred compensation in the form of “qualified” retirement plans, including 401(k) and SIMPLE plans, they offer tax-advantaged contributions and potential earnings. “Non-qualified” deferred compensation (NQDC) plans don’t typically include the same tax advantages, yet they help companies compete for and retain top employees.
Some agreements let employees put this money in company stock or different investments, while others are simply a promise by the employer to pay a certain amount at a later date. There are pros and cons to each approach, including the potential of investments or the company performing badly and jeopardizing deferred money.
Talk to your tax and legal professionals before entering into an NQDC agreement.
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