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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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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.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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