Stay Abreast of Changes in Non-Qualified Plans

FreeERISA.com offers several databases that can help you identify companies in your market that offer qualified retirement plans. They also offer one database of “Top Hat Plans”- unfunded deferred compensation plans that are required to declare their existence in a public filing. (These plans are not required to file a report annually.)

So, while you can’t usually tell from FreeERISA data whether or not a company in your market offers non-qualified benefits for a select group of key executives, it’s a good idea to ask about these plans as you prospect. Among companies with 50 or more employees, you may find that a significant number offer either a non-qualified deferred compensation (NQDC) program or a Supplemental Executive Retirement Program (SERP). When you can serve both a company’s qualified plan and also its non-qualified executive plan, you will increase your revenue potential and time efficiency in selling and servicing accounts.