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Trevor A. Farrington, LUTCF®, RICP®
Regional Vice President
Financial Advisor
Equitable Advisors, LLC
93 Worcester Street, Suite 103
Wellesley, MA 02481
Phone: 617-407-2684
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.
GE-6407076.1 (2/24) (Exp 2/26)
Duly registered and licensed financial professionals offer securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN), offer investment advisory products and services through Equitable Advisors, LLC, an SEC-registered investment advisor, and offer annuity and insurance products through Equitable Network, LLC (Equitable Network Insurance Agency of Utah, LLC in Ut; Equitable Network of Puerto Rico, Inc.). Equal Opportunity Employer - M/F/D/V. Equitable Advisors and its associates and affiliates do not provide tax, accounting, or legal adviceor services. Representatives may transact business, which includes offering products and services and/or responding to inquiries, only in state(s) in which they are properly registered and/or licensed. Your connection to this website does not necessarily indicate that the sender is able to transact business in your state. The information in this website is not investment or securities advice and does not constitute an offer. For more information about Equitable Advisors, LLC you may visit https://equitable.com/crs to review the firm's Relationship Summary for Retail Investors and General Conflicts of Interest Disclosure.
GE-6572038.1 (4/24)(Exp. 4/26)
www.equitable.com
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