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Timothy Steele
Investment Advisor Representative
HBW Advisory Services LLC
3017 Douglas Blvd, Suite 100
Roseville, CA 95661
Phone: 916-550-3456
Cell: 916-250-0953
Fax: 801-527-5618
Email: timothy.steele@hbwadvisory.com
Website: www.myHBWadvisor.com
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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