Quick Summary
For businesses on a growth path, employee benefits are a critical part of compensation packages – especially when you’re competing to attract the smartest and most experienced people for your management team. So what should you include in your benefits to make them competitive? A retirement plan is almost mandatory these days. But for your most highly paid employees, a qualified plan may not offer enough savings and tax planning flexibility due to IRS restrictions. A nonqualified deferred compensation plan gives you a way to provide extra tax-deferred savings options to a small group of top individuals within your company.
