Attracting and keeping valuable employees is key to a thriving business. A Deferred Compensation Plan can help you do just that.
With a Deferred Compensation Plan, an employer enters into a contractual arrangement that includes the following:
- Employee agrees to defer a portion of their current salary
- Contains death contingency plans
- Plan provides for full vesting of amounts attributable to contributions made to the plan in the form of income deferrals
- Employer pays the retirement benefits to the employee from its current earnings and recoups these benefits costs from the life insurance death benefits
- Offers tax benefits to employee and employer
- Many more options and benefits