Search results
Results from the WOW.Com Content Network
Plan: a non-qualified deferred compensation plan can be established for one individual (for example, an agreement for one employee), or can be established for a large number of individuals selected in the complete discretion of the company (for example, a "plan" for all the highly paid employees of the company). A non-qualified deferred ...
The 457 plan is a type of nonqualified, [1] [2] tax advantaged deferred-compensation retirement plan that is available for governmental and certain nongovernmental employers in the United States. The employer provides the plan and the employee defers compensation into it on a pre tax or after-tax (Roth) basis.
The term "plan" includes any agreement, method, program, or other arrangement, including an agreement, method, program, or other arrangement that applies to one person or individual. Section 409A specifies that unless any deferred compensation falls into a specified set of "qualified deferred compensation" categories, the IRS will automatically ...
A Solo 401(k) plan is essentially a 1-person 401(k) plan for self-employed individuals or business owners with no employees, in which you are the employer and the employee. Solo 401(k) plans may ...
A nonqualified deferred compensation (NQDC) plan is an arrangement that an employer and employee agree to where the employer accepts to pay the employee sometime in the future. Executives often ...
For premium support please call: 800-290-4726 more ways to reach us
While technically "deferred compensation" is any arrangement where an employee receives wages after they have earned them, the more common use of the phrase refers to "non-qualified" deferred compensation and a specific part of the tax code that provides a special benefit to corporate executives and other highly compensated corporate employees.
A 401(k) is the most common type of employer-sponsored retirement plan but certain employees may have access to a 414(h) plan instead. A 414(h) plan, also called a pick-up plan, offers people who ...