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Nonqualified deferred compensation plans: Key to drawing top talent

Employers say employee participation in NQDC plans increased in 2022 compared to the previous year, according to a new survey.

By Tom Gresham | January 19, 2023 at 09:07 AM
man offering cash (Photo: iStock)

Employers who offer nonqualified deferred compensation plans say they include the plans in their benefit offerings as part of their efforts to attract and retain key talent – specifically highly compensated corporate executives – in a tight labor market, according to a new survey by the Plan Sponsor Council of America of 135 employers who offer the plans.

Nevin Adams, chief content officer for the American Retirement Association, said employers are looking for new and creative ways to engage with talent and “benefit programs are an integral part of that positioning.” He said NQDC programs offer flexibility in design and funding, helping create attractive benefit packages. Nearly one-in-five (19.7%) of the respondents in the survey, which was sponsored by Lincoln Financial and Principal Financial Group, said that employee participation in their NQDC plan increased in 2022 compared to the previous year.

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