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Frequently Asked Question
Will my company give me a summary plan description for its nonqualified plan?

Under ERISA requirements for qualified plans, such as a 401(k) plan, a company must have a written plan document and give a summary plan description (SPD) to all participants. For qualified plans, the SPD is the main document for communicating …

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More FAQs
Can I borrow money from my NQDC account?
If I am an outside director or consultant, is the income at deferral and distribution reported on a 1099-MISC?
What appears on my W-2 for the year of income deferral?
Can my company use part of the amount I deferred to pay the FICA (Social Security and Medicare) taxes?
When and how are Social Security and Medicare taxes (FICA) paid when I defer my income?
Can I elect to trigger my distribution upon certain events, such as death, disability, or job loss, rather than just at a specific date in the future?
Will there be some type of enrollment form?
Do I need to elect the percentage I defer, the year when it will be distributed, and the form of payment when it is distributed?
How soon after becoming eligible do I need to enroll in the NQDC plan?
At a minimum, what do I usually need to decide when I enroll?

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