How to Implement an Executive Benefit Plan Due Diligence Framework | Sessions

Nonqualified plans have become increasingly important in the last 18 to 24 months. Employers need new and inventive ways to attract, retain and incentivize highly compensated and key management employees.  One of the biggest (and most overlooked) differences between qualified and nonqualified plans is the lack of a 'due diligence framework' on the nonqualified plan side. In the world of nonqualified plan, you and your plan committee are required to meet regularly, and to comply with various fee disclosure, notice requirements, etc.   In the world of nonqualified plans, there's a tremendous amount of flexibility, but due diligence is still imperative to make sure plan sponsors comply with applicable law.   The purpose of this presentation is to identify nonqualified plan due diligence needs and develop a related framework and support system.

Learning Objectives:

• What is a nonqualified deferred compensation plan and how does it defer from a qualified retirement plan?
• What are the related advantages for employers and employees?
• What are the due diligence requirements for nonqualified plan sponsors?
• How can these types of plans provide a significant value add to employers?
• What are the key due diligence considerations?