Updated Nonqualified Plan Accounting Guide
The Executive Benefits Team at OneDigital has released the 2022 nonqualified deferred compensation plan liabilities and informal funding accounting guide.
The Executive Benefits Team has just released its 2022 Nonqualified Plan Accounting Guide. This reference material has been created to provide a high-level discussion of accounting principles for nonqualified deferred compensation plans (NQDC). The new guide provides examples that may offer insights into the important distinctions in accounting principles for nonqualified plans compared to the more widely known accounting principles that apply to qualified plans.
“Our revised Nonqualified Plan Accounting Guide,” said Managing Director Mike Powers, “Is not tailored to any specific situation. Instead, it offers generalized information and examples. In all cases, Plan Sponsors should consult their own accounting, legal, and tax advisory professionals.”
To obtain a copy of the Nonqualified Deferred Compensation Plan Liabilities and Informal Funding Accounting Guide, contact any of our executive benefits specialists.
We’ll also be happy to email a copy of the Accounting Guide directly to you.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. Any tax advice contained herein is of a general nature. You should seek specific advice from your tax professional before pursuing any idea contemplated herein.
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