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LSDefine

Simple English definitions for legal terms

nonqualified pension plan

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A quick definition of nonqualified pension plan:

A nonqualified pension plan is a type of retirement savings plan where an executive or highly paid employee can contribute additional funds to increase their retirement benefits. This plan is not subject to the same federal laws as qualified pension plans, which offer tax benefits for contributions and investment growth. Nonqualified pension plans are typically offered to a select group of employees and are not funded by employee contributions.

A more thorough explanation:

A nonqualified pension plan is a type of deferred-compensation plan that allows executives to increase their retirement benefits by making additional contributions to the company's basic plan. This plan is not subject to the same federal laws as qualified pension plans, such as the Employee Retirement Income Security Act (ERISA), and does not offer the same tax benefits.

For example, a CEO may have a nonqualified pension plan that allows them to contribute an additional $50,000 per year to their retirement benefits. This plan is not available to all employees and is only offered to a select group of executives.

Nonqualified pension plans are often used as a way to attract and retain top talent in a company. However, they are not as secure as qualified pension plans and may be at risk if the company experiences financial difficulties.

nonqualified deferred-compensation plan | nonqualified stock option

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BulbasaurNoLikeCardio
10:20
Yes the septum, so they don't feel weird or mess with breathing/running at all even when flipped in? At limit
snow
10:23
its been a quiet morning so far
LSDFan
10:23
i have no hope for today
JumpySubsequentDolphin
10:24
idk about septums, i only have nostril pierced @bulb
triplethread
10:24
snow i think we will prob hear back from kent the week of dec 1st
10:24
Past 10am and ....nothing
JumpySubsequentDolphin
10:24
I think UCLA a wave today no?
babycat
10:24
🚑
What time have UCLA waves been at
Dkk
10:24
It's only 7:24 AM. We on the west coast control the time.
thismanatemyson
10:25
UCLA please save me
triplethread
10:25
snow if i dont get invited for an honors college interview i might freak
Dkk
10:25
11:22:24 AM PST, wave will come.
triplethread
10:26
dkk are u a boy or a girl
Dkk
10:26
Wizard 101 told me I was a boy wizard.
triplethread
10:26
ok
BulbasaurNoLikeCardio
10:26
I am thinking it will be slower/quitter until after thanksgiving
snow
10:27
thread im like 90% sure im getting an R, but ive come to peace that this might be my unreasonable R for the cycle
triplethread
10:27
but snow we have the same stats. you'll be fine. i promise. if im this confident you should be too
Dkk
10:27
Only tiktok I will share cus I stay off that site.
I am sorry if you like it, but TikTok is fucking awful
LSDFan
10:28
tiktok is great
triplethread
10:28
i lub tik tok and reddit and instantgram
Dkk
10:29
Nah, lol I hate it @texas. I remember when it was music.ly too and you used to have music.ly cringe compilations.
babycat
10:29
I do not have tiktok either because it makes my brain unhappy
10:29
how come i didnt get fordham AGAIN
Yeah, shit is awful. I have friends who spend hours a day on it
m10
10:30
Sorry to hear @Eggan
BulbasaurNoLikeCardio
10:30
I think tik tok is evil and coming from a national defense background, working in PSYOP and in the intelligence community I can promise it is.
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