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Retirement Planning

Non-qualified Retirement Plan Definition

A non-qualified retirement plan, often referred to as a NQRP, is a type of pension plan that does not meet the criteria for special tax treatment under the Internal Revenue Code or the Employee Retirement Income Security Act. Unlike qualified plans, such as 401(k)s, contributors to NQRPs do not receive the same tax benefits. However, this flexibility allows for customized benefit amounts and payout schedules, making them attractive to employers looking to retain top talent. While individuals can create NQRPs, they are typically established by employers. Let's delve deeper into the differences between qualified and non-qualified retirement plans.
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