NWPS has been providing Non-Qualified Deferred Compensation plans to our clients since our founding. These plans are typically offered to a select group of management or highly compensated employees of the sponsoring companies. NQDC Plans are designed to provide deferred compensation opportunities independent of limits imposed by the IRS on qualified retirement plans.
Non-Qualified
Design
Though not subject to ERISA, there are rules and guidelines for NQDC plans. Many providers in this business are focused on utilizing proprietary investments or insurance products as the investment/funding vehicles for the plans. NWPS does not have any proprietary products to sell and provides 100% open investment architecture. Many of our clients utilize the same fund lineup (whether funded or notional) for the NQDC plan as for the qualified/401(k) plan. This makes these plans easier for participants to understand. There are also specific contribution and distribution elections/rules for NQDC plans which require careful evaluation.
Education
We work with clients to develop a program to achieve their goals for participant understanding and utilization. We also provide web/mobile access and live call center support from our expert team.
Integration
Most of our NQDC clients also have their qualified plans with NWPS. This enables us to provide high levels of integration between the plans with respect to systems, communication, participant interface and reporting.
Compliance
NWPS monitors all applicable industry trends, rules, and regulations. We take proactive responsibility for ensuring that our clients’ plans remain in compliance. We make sure that happens.