Deferred Compensation Plans Overview
Attracting and retaining key executives who drive your co-op’s operational effectiveness and bottom-line success requires a competitive approach to compensation. Take a closer look at Homestead’s Deferred Compensation Plans Available to Taxable Co-ops.
For a detailed comparison of nonqualified deferred compensation plan types, click here.
Below you will find resources for co-ops that file a Form 1120.
Top Hat Plan
Allows select group of management or highly compensated employees and/or directors to defer additional compensation to supplement benefits from qualified retirement plans. May also be used to provide additional compensation to employees if specific performance goals are met within a predetermined time period.
See the Top Hat Plan for Taxable Employers Checklist.
Related Resources
Executive Benefit Restoration Plan
Allows co-ops to provide additional retirement benefits to a select group of executives who may have their pension benefits limited because of IRS restrictions on qualified retirement plans.