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Nonqualified deferred compensation plans for employees

Nonqualified deferred compensation plans

Offering competitive benefits is important to your success. A nonqualified deferred compensation plan can help you show your commitment to the employees you depend on most.

A benefit that helps employees save—and you stand out

Recruiting and retaining top talent can be a challenge for employers. And meeting retirement savings goals can be difficult for highly compensated employees. The good news? A nonqualified deferred compensation plan could help with both.

Deferred comp offers key employees a way to save beyond the limits of their 401(k) or other qualified plan. Providing this benefit can also set you apart from other employers. In fact, 61% of participants consider a plan important in deciding to take a new job, and 72% of employers view the plan as valuable for their retention efforts.

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Primary uses for deferred compensation:

  • Retain key employees by helping them save more.
  • Give key employees more control over the timing of benefits payments (and income taxes).
  • Support efforts to recruit and reward key employees—and help them retire.
  • Simulate employee ownership and facilitate business succession.

A provider you can trust

As the No. 1 provider of deferred comp plans with more than 35 years of experience offering this benefit, Principal® can meet all your deferred comp needs—from plan design to administration.

Innovative plan design and consulting

We work hard to understand your organization and design a plan that meets your short- and long-term goals.

Multiple financing options

We offer a variety of financing techniques and help you make an informed decision about which is best for you.

Efficient plan onboarding

Our priority is to work with you to make plan onboarding as easy as possible.

Dedicated plan administrative services

Once your plan is in place, you can expect the expertise, consultation, and responsiveness to continue.

Attract and retain key employees

See how nonqualified deferred compensation benefitted this organization.

Is a nonqualified deferred compensation plan right for you?

Let’s chat about how deferred comp could help meet the needs of your organization.

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