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Non-Qualified Deferred Compensation is an unfunded, unsecured promise by the employer to a key employee to pay compensation at a specific time or upon a specific event in the future. The program is a contract between the employer and the key employee for the payment of future benefits. As we help Business owners plan for their exit nonqualified deferred compensation can be a very viable solution for attracting, retaining, and rewarding key employees. It can also be used as a key piece in structuring an internal sale of the business to either key employees or children. However, Non-Qualified Deferred Compensation has a few disadvantages or planning challenges which we will mention today – and also today we are going to hear from an expert on an alternative solution that addresses the disadvantages and that’s what we are going to discuss today, An Alternative to Non-Qualified Deferred Compensation.
