The 401(k) look-alike plan

Effective retirement planning is one of the most critical issues facing Americans today. The qualified 401(k) plan has become a popular option. For the highly compensated, however, it is often insufficient to fund the desired standard of living because of contribution limitations. The 401(k) Look-Al...

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Bibliographic Details
Published in:Journal of financial service professionals 1997-11, Vol.51 (6), p.48
Main Authors: Jenei, Jeffrey J, Sardis, Anthony M
Format: Article
Language:English
Subjects:
Agreements
Compensation plans
Corporate profits
Deferred compensation
ERISA
Executive compensation
Flexibility
Income taxes
Nonqualified pension plans
Pension plan funding
Profitability
Retirement benefits
Retirement plans
Standard of living
Taxable income
Taxation
Wages & salaries
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Summary:Effective retirement planning is one of the most critical issues facing Americans today. The qualified 401(k) plan has become a popular option. For the highly compensated, however, it is often insufficient to fund the desired standard of living because of contribution limitations. The 401(k) Look-Alike Plan is a nonqualified plan that employers may use to reward and to retain executives by agreeing to defer some compensation until retirement. In the interim, the deferrals can grow without current income taxation. The 401(k) Look-Alike account, however, is more flexible than the qualified plan because the parties can agree to the amount of investment earnings.
ISSN:1537-1816
2381-8875