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

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.

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