Plan sponsors in a Nonqualified Retirement Plan

emmy1941 · Apprentice Joined: 10 Aug 2010 Posts: 1

What do you know about sponsors in a nonqualified retirement plan? I had no idea that it is my boss, I’ve heard rumors and I went to ask him, he told me that it is his obligation, but I didn’t believe him anyway. We don’t like each other much, anyway. I went to get a dictionary and I found nothing…Is it normal to let your boss sponsor your retirement plan? What is the catch??

alia · Apprentice Joined: 06 May 2008 Posts: 1

Nonqualified plan is not really something that your boss should feel proud about, it is a tax free plan and he is not going to be out of any interest for the IRS while he is making payments, but I think that it is going to wait for you to get retired and than you are going to face limitations in your receiving. Any way you turn, you are going to have to pay for those taxes…

gilbertina · Apprentice Joined: 02 Dec 2008 Posts: 1

These plans are one of those with really extraordinary wide range of possibilities. That is, it can be a great thing for you, or it may be a great thing for your employer, and it can even be a great thing for the IRS. Any way you turn it, you’ll going to have to study that contract really slowly and see if there is anything that jeopardizes your future under pension. If you find anything you are in position to decide whether to sue your employer, for he’d have to let you know about these things before they take effect, or if you are going to let it go. So it’s up to you.

laurenvander82 · Apprentice Joined: 28 Jun 2012 Posts: 2

I am looking for a retirement plan service persons who can help me in putting my money in business. he is getting some mails from financial advisors about planning investment but he is in deep confusion which one should choose. It’s for my elder uncle who is getting retired in this summer.

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