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Qualified vs. Non-Qualified Deferred Compensation Plans In a nutshell, deferred compensation plans are a way to be compensated for your work without receiving money immediately.
Deferred compensation is an arrangement in which a portion of an employee's wage is paid out at a later date after which it was earned. Examples of deferred compensation include pensions , retirement plans , and employee stock options .
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Non-Qualified Deferred Compensation is also sometimes referred to as deferred comp (which technically would include qualifying deferred comp but the more common use of the phrase does not), DC, non-qualified deferred comp, NQDC or golden handcuffs. [31] "Most large companies" have a NQDC that takes compensation until some future date.
6 required minimum distribution (RMD) rules. Here’s a summary of six RMD rules you should know. Tax-deferred accounts have RMDs. You must take RMDs from any tax-deferred account, including a:
Money deferred into nongovernmental 457 plans may not be rolled into any other type of tax-deferred retirement plan. It may be rolled only into another nongovernmental 457 plan. Also, money deferred into nongovernmental plans is not set aside in a trust for the exclusive benefit of the employee making the deferral. The Internal Revenue Code ...
Section 409A specifies that unless any deferred compensation falls into a specified set of "qualified deferred compensation" categories, the IRS will automatically consider it unqualified deferred compensation. The qualified deferred compensation categories are: Qualified employer plans (these are basically employer retirement plans)
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