A type of non-qualified pension plan that provides for salary deferral until retirement, death, disability or a predetermined date.
An agreement between an employer and an employee under which the employee will receive compensation during periods in which he or she is no longer working – after retirement, death and/or disability.
A non-qualified benefit plan under which an employee defers current income to some future date. Under such an arrangement, the employer makes an unsecured promise to pay the employee future income. The employee is not taxed on the deferred income until it is distributed and the employer receives no tax-deduction for compensation until that same time. Permanent life insurance is a popular method of Deferred Compensation Plan funding. The plan usually provides retirement benefits to the employee and death benefits to the employee's beneficiaries.
A type of nonqualified retirement plan under which participants agree to defer receipt of part of their compensation until retirement, disability, termination, or death. The theory is that by deferring some of their compensation, employees may pay taxes on that compensation when they are retired and in a lower tax bracket.
Type of Non-Qualified Plan also referred to as SERPS (Supplemental Employee Retirement Plans) used in instances where an employer wants to provide supplementary compensation for key executives or employees and wishes to defer payment into the future.
A plan in which the executive elects to defer compensation into an account in the expectation of receiving the deferrals plus earnings at retirement; may involve company contributions.
Any Plan where Employees can accumulate money on a tax-deferred basis.
Among government employers, an eligible deferred compensation plan refers to a Section 457 plan. (See also “457 plan.”)
A tax-sheltered investment plan to which employees of state and local governments can defer a percentage of their salary.
A deferred compensation plan is a nonqualified plan under which additional retirement benefits are provided to selected executives. The plan may be a "true" deferred compensation plan or a salary continuation plan.
A plan under which the participant is permitted to defer a portion of his gross income to a retirement plan. Such a deferral is tax exempt for federal income tax purposes until the proceeds are distributed.
A plan established by an employer to provide income benefits to an employee at a later date, such as after the employee's retirement, if the employee does not voluntarily terminate employment before that date.
