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According to a new report from WTW, many employers are making changes to nonqualified retirement plan offerings, in an effort to attract and retain top employees such as executives and other high-income earners. The analysis found that there is a renewed focus on nonqualified retirement plans, which are plans that are not subject to Employee Retirement Income Security Act (ERISA) rules and can include deferred-compensation plans, executive bonus plans, and split-dollar life insurance plans. The nonqualified plans do not generally use pre-tax dollars, in contrast to plans such as 401(k)s.
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