Five common mistakes in nonqualified deferred compensation plans

November 2008
Employee Benefit News;Nov2008, Vol. 22 Issue 14, p16
The article discusses the five common problems in nonqualified deferred compensation (NDQC) plans in the U.S. The goal behind such plans is to compensate employees for services they rendered after a year. Three of the most common errors in these plans are miscalculation of Federal Insurance Contributions Act (FICA) taxes, insufficient communication with employees and operational noncompliance requirements for a deferred compensation plan.


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