Your Nonqualified Deferred Compensation Plan | June 2024

Understand the key elements of the Plan that unlock substantial savings opportunities. Our featured videos illuminate the potential tax benefits, distribution options, and personalized advantages that nonqualified plans offer. Let us unveil the unique features that can elevate your financial strategy. 

Enroll through your plan recordkeeper: Empower Retirement

Your Investment Options

Explore the Plan’s investment options for a straightforward look at potential pathways for your money. 

Your 2024 Enrollment Checklist

This concise guide ensures you cover all essential aspects of the Plan before you finalize your elections. 

The next four videos capture answers to the most frequently asked questions and address common concerns in harnessing the power of nonqualified plans.  Our hope is that you will gain a thorough understanding of nonqualified plans, enabling you to make informed decisions for the future to ensure your financial security.

What should I ask when considering a Nonqualified Plan?

Explore the multifaceted landscape of retirement considerations, from Social Security to health care, and ask key questions about participating. 

How much savings do I need?

Reevaluate traditional retirement savings norms by focusing on personalized spending estimates, illustrating that individuals with varying retirement expenses may require significantly different savings targets for a comfortable retirement.

Does tax-deferred growth help me save more?

Explore the compelling impact of tax deferral within nonqualified plans, demonstrating the potential for enhanced growth and positive net impacts on after-tax dollars during distribution.

How can I strategically manage my tax rate?

Gain insight into the importance of understanding your marginal tax rate for effective retirement planning, and exploring strategic approaches to tax diversification. 

Here we help unravel the mechanics, taxation, and risk management strategies of nonqualified plans, providing a comprehensive understanding of informed financial decisions. 

How A Nonqualified Plan Works

Participating in this plan involves deferring a portion of your pay, which allows for tax-deferred growth and potential tax savings, and distribution options.

Taxation in Nonqualified Plans

Discover the benefit of deferring ordinary income taxes, which may strategically lower taxable income during peak earning years

The Risks of Nonqualified Plans

Navigate the complexities and understandthe risks associated with limited accessibility, market fluctuations, and tax obligations, highlighting the importance of informed decision-making.

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