All BMO Harris branch location ATMs are also available free of charge to Park Bank customers!
The rise of 401(k) Plans has been a boon for those seeking to save for retirement while reducing their current tax bite. But for executives and highly compensated individuals, there may be significant restrictions when it comes to their employer-sponsored retirement plan. That’s why many companies offer non-qualified plans to certain employees as a means to retain and reward key employees.
Non-qualified plans can be tailored to a specific company’s or individual’s needs, and differ significantly from qualified plans in their contribution limits, funding structures and distribution rules.
No legal contribution limits
Contributions are tax deferred; taxes are not paid until funds are distributed
Contributions are not technically owned by plan participants until they are paid out
Distribution options differ according to plan structure, suited to the needs of the business
Non-qualified retirement plans are completely customizable, including funding structures, contribution limits and distribution options. Our LPL Financial Advisors can create a plan that suits your unique needs.