Flexible and Low-Cost Retirement Plan
NQDC plans can be a good fit for closely held organizations that may need a benefit to attract key non-shareholder employees. Through a NQDC plan, employers can generally select plan features like deferral limits, matching contributions and investment choices. The costs and administrative burden of a NQDC plan may potentially be lower than many defined contribution ERISA plans. Moreover, a NQDC plan can provide you with confidence in knowing you are providing your key executives with tools to help them prepare for retirement.
Tax Advantages for Employees
Participants in a NQDC plan are generally able to defer higher amounts of income on a pretax basis than is possible through qualified retirement plans. This helps participants — including highly paid executives — fill the gap between their pre-retirement income and their post-retirement income.
Seamless Plan Integration
As a leader in coordinating all of your retirement plans into one comprehensive program, MassMutual can work with you and your advisor to show you how your defined benefit, defined contribution and NQDC plans work together. We can help simplify the process for many for-profit, tax-exempt and non-profit organizations by combining your new or existing retirement plan with a NQDC program. MassMutual uses an integrated team approach in servicing NQDC plans, allowing our clients to benefit from the combined experience of three retirement plan specialists. Together, MassMutual Retirement Services, MyDeferral Executive Benefits and Reliance Trust Company will provide all of the components to help you offer an attractive NQDC plan that complements your existing retirement benefits program.