Michael Milazzo photo

Michael A. Milazzo, CLU, ChFC

Registered Principal

 

The Meridian Financial Company

3350 Club Villas Dr SE, Unit #1303

Southport, NC 28461

 

Phone:  631-979-4223

Fax:      910-854-0002

 

Email: meridian@ae.cadaretgrant.com

Website: www.merfinco.com

July/August 2024

2023 NQDC Survey Report

Survey Vector Illustration Set. People Giving Feedback, Choosing Answer, Making Decision and Research. Collection of Online Survey, Customer Review, Voting, Checklist, Client Feedback for Web Design

Here are some of the key findings from the 2023 survey of non-qualified defined contribution (NQDC) plan sponsors.


  • 80% of respondents stated they offer a NQDC plan to make their benefits package more competitive when recruiting key employees.

  • 63% of eligible employees participate in the NQDC plan, deferring an average of 10% of base pay and 30% of bonus pay.

  • 75% of employers make contributions to the NQDC plan—most commonly a “restoration match” (48.4% of plans), designed to fill the gap from the match excluded from the 401(k) plan due to IRS limits.


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Securities and Advisory Services offered through Cadaret, Grant & Co, Inc, a Registered Investment Advisor and Member FINRA/SIPC. The Meridian Financial Company and Cadaret, Grant & Co., Inc. are separate entities. I am registered to sell Securities in the following States: NY, NJ, PA, NC, FL, ID.
The Meridian Financial Company and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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