ERISA regulations prohibit highly compensated employees (HCE) from fully benefiting from qualified retirement plans by way of contribution limitations and discrimination tests that ensure that similar participation benefit to nonhighly compensated employees. The effect is that HCE are left to figure out how to fill the savings gap as a % of their preretirement income in retirement. Nonqualified deferred compensation plans are a solution. 7 min video.... ( read more )
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How to Close Retirement Income Gaps for High Comp Employees Retirement is a significant milestone in one's life, and it is essential to ensure that you have enough income to live comfortably during your golden years. However, many high-compensation employees often face income gaps in their retirement plans due to ...
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