- Financial Advisor Support
- Newport - COLI
Newport - COLI
Newport - COLI
Benefits of Using Corporate-Owned Life Insurance (COLI) to Fund Nonqualified Plans
Offering nonqualified deferred compensation (NQDC) savings plans as a supplement to traditional qualified plans such as a 401(k) is an effective tool companies use to attract, motivate, and retain key employees, and to help resolve qualified plan testing failures. But because NQDC plans do not meet ERISA requirements, they must be funded differently than qualified plans.