Definitions for "Salary continuation plan"
Keywords:  nonqualified, sick, defer, forego, serp
a type of nonqualified deferred compensation in which the benefits are paid by the employer in addition to the employee's other compensation; the employee does not take a salary reduction or forego a salary increase to provide the deferred benefits
a formal plan established by an employer to pay disability benefits to disabled employees
An arrangement whereby an income, usually related to an employee's salary, is continued upon his or her death; often paid to the employee's beneficiary.