Employers typically use nonqualified deferred compensation plans to provide additional retirement savings for rank-and-file employees.

Name: Employers typically use nonqualified deferred compensation plans to provide additional retirement savings for rank-and-file employees.
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Question

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Nonqualified deferred compensation plans are typically used to provide additional retirement savings or benefits to key executives and highly compensated employees, not for rank-and-file employees.

Employers Typically Use Nonqualified Deferred Compensation Plans to Provide Additional