Under SERP,nonexecutive employees earn an annual retirement benefit equal to 50% of the highest average annual salary for a consecutive three-year period.Defining Nonqualified Deferred Compensation Plans (NQDC))

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SERP, or Supplemental Executive Retirement Plan, typically applies to executives or key employees, not nonexecutive employees. It is a form of nonqualified deferred compensation designed to provide retirement benefits beyond those covered by standard retirement plans like 401(k)s.

Under SERP,nonexecutive Employees Earn an Annual Retirement Benefit Equal to 50