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Simple English definitions for legal terms

nonqualified deferred-compensation plan

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A quick definition of nonqualified deferred-compensation plan:

A nonqualified deferred-compensation plan is an agreement between an employer and certain individuals to pay compensation to those individuals at a later date. It is not a qualified plan, which means it does not qualify for favorable tax treatment. This type of plan is often offered to executives and avoids restrictions on qualified plans, such as limits on contributions and benefits and rules against discrimination in favor of highly compensated employees.

A more thorough explanation:

A nonqualified deferred-compensation plan is an arrangement offered to executives that allows them to defer compensation and the recognition of its accompanying taxable income to a later date. This type of plan is not qualified for favorable tax treatment under the Internal Revenue Code. The plan avoids the restrictions on qualified plans, especially the limits on contributions and benefits and rules against discrimination in favor of highly compensated employees.

For example, a company may offer its top executives a nonqualified deferred-compensation plan that allows them to defer a portion of their salary until retirement. The deferred amount is not taxed until it is paid out, which can result in significant tax savings for the executive.

non-purchase-money | nonqualified pension plan

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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