How to use Non-Qualified Deferred Comp plans as "golden handcuffs" for your key employees

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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://gulfcoastfa.com/

https://gulfcoastfa.com/401k-forum

https://pciawealth.com/

https://qualifiedplanadvisors.com/

https://fitrusts.com/

https://everydollarcounts.libsyn.com/

http://jaystubbs.com/

https://www.firstprotective.com/

https://www.deepfriedstudios.com/

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Resources: