The seventh annual MullinTBG/PLANSPONSOR Executive Benefits Survey found that executives need options like nonqualified deferred compensation plans (NQDCPs) to help them achieve their savings goals.
Higher tax rates and historically low interest rates present potentially greater challenges for highly compensated employees trying to save for retirement and meet other financial goals, making deferring compensation into a nonqualified plan especially attractive.
The survey found that 91 percent of companies are now offering NQDCPs. It also found that more companies are offering executives financial planners to help create effective retirement planning strategies. IN 2012, 53 percent of firms state they now offer financial planning benefits, compared to 34 percent in 2009.
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