Nonqualified plans

Term · Insurance and risk management · MLC-T-INS-002354

Employee benefit arrangements, such as deferred compensation and supplemental executive retirement plans, that do not meet the Internal Revenue Code requirements for a qualified plan and so lack its tax-favored treatment. They are offered to a select group of highly paid executives and are generally unfunded. Many are exempt from ERISA's participation, vesting, and funding rules, but top-hat plans remain subject to its reporting and claims procedure requirements.

Table 1. Record
Identifier	MLC-T-INS-002354
Field	Insurance and risk management
Subject	Management Liability

Record as JSON

{
  "id": "MLC-T-INS-002354",
  "term": "Nonqualified plans",
  "field": "Insurance and risk management",
  "definition": "Employee benefit arrangements, such as deferred compensation and supplemental executive retirement plans, that do not meet the Internal Revenue Code requirements for a qualified plan and so lack its tax-favored treatment. They are offered to a select group of highly paid executives and are generally unfunded. Many are exempt from ERISA's participation, vesting, and funding rules, but top-hat plans remain subject to its reporting and claims procedure requirements.",
  "subject": "Management Liability",
  "url": "https://mlchart.com/terminology/insurance/nonqualified-plans/"
}

Record 2,315 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.