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Armando Patino, LUTCF®, FSCP®

Financial Advisor

 

Prudential Advisors

1 Tower Center Blvd, 16th Floor

East Brunswick, NJ 08816

 

Phone: 908-368-1588

Cell:     201-290-1941

 

Email: armando.patino@prudential.com

Website: www.prudential.com/advisor/armando-patino

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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