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Ar Diamond Plan  Form

Ar Diamond Plan Form

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[Music] do you work for an employer that offers you a non-qualified deferred comp plan are you wondering what that might be and whether you should use it well here to talk with me about this is dana onspot from sensiblemoney dana welcome hi bob glad to be here glad to have you because this is a question that we get often from folks and i guess the best place to start is with the definition yeah what is a non-qualified deferred comp plan that's a great question in simple terms it's a plan that allows you to take some of your compensation and tuck it away not pay taxes on it today and uh defer it until later and at the time that you take it back out of course you'll pay taxes then now that sounds relatively easy to understand but there are actually several types of non-qualified deferred comp plans and they all work a little bit differently and the actual planned document that governs these plans can even have underlying provisions that can vary from plan to plan

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