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Craig W. Schubert
Financial Planner
Business & Financial Strategies, LLC
Providing Insurance & Financial Services
1657 Crofton Blvd, Suite 200
Crofton, MD 21114
Phone: 410-841-0032
Fax: 410-841-0030
July/August 2024
2023 NQDC Survey Report
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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Craig W. Schubert is a Financial Planner with, and offers securities and investment advisory services through LPL Enterprise (LPLE), A Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
LPLE and LPL Financial are not affiliated with Business & Financial Strategies, LLC.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
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