NQDC is a supplemental benefit that permits the deferral of earned income to a future date, often aligning with retirement when one’s taxable income is expected to be lower. NQDC provides high-income earners with enhanced savings potential beyond what qualified plans offer. Its flexible structure allows for customization, making it an effective tool for attracting top talent and promoting long-term loyalty and motivation.
In short, BOLI is a tax-efficient method banks use to generate additional income as a means to offset employee benefit expenses. In this Q&A, VP of Consulting Dave Gagnon addresses questions about BOLI and provides insight into the role it plays in the banking industry.
An LTIP is an incentive bonus plan that makes payments based on the achievement of specific goals which are generally paid three to four years after they have been earned and after satisfying the vesting requirement. In this Q&A, Principal John Gagnon addresses common concerns to help determine if an LTIP is a proper benefit choice for your organization.