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Josh & Jay welcome Will Steih, Managing Director or Prime Capital Investment Advisor’s Tennessee office, to the studio for Chapter 4 of 5 in our Business Owner Strategies & Solutions (B.O.S.S.) Series, a discussion about Non-Qualified Deferred Compensation Plans. We discuss why a business owner would consider a Non-Qualified Deferred Compensation Plan, often referred to as “golden handcuffs”. Non Qualified Deferred Comp is a way to offer additional benefits to incentivize your key employees to stay loyal to the company, while providing some element of control for the provider of the plan.
Key Takeaways:
- Non-Qualified Deferred Comp is a tool to keep key employees loyal in a competitive hiring or business environment.
- Non-Qualified Deferred Comp can potentially be structured to grow tax-free using permanent life insurance.
- There is a cost recovery component to Non-Qualified Deferred Comp Plans that may have more “punch” than just providing additional W2 income to a key employee.
- N.Q. Deferred Comp allows an employer to carve out additional benefits for their organization’s key employees.
Show Links:
https://v0y.3de.mytemp.website/
https://v0y.3de.mytemp.website/401k-forum
https://qualifiedplanadvisors.com/
https://everydollarcounts.libsyn.com/
https://www.firstprotective.com/
https://www.deepfriedstudios.com/
https://www.slothracerband.com/
Resources:
Gulf Coast Financial Advisors
Prime Capital Investment Advisors
Qualified Plan Advisors
Financial Fitness for Life
First Protective