This term refers to an unfunded deferred compensation plans for a select group of highly compensated employees? (The Employee Retirement Income Security Act of 1974)

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Top hat plans, also known as unfunded deferred compensation plans or excess benefit plans, are designed for a select group of highly compensated employees and are exempt from certain rules under the Employee Retirement Income Security Act of 1974 (ERISA). These plans are not funded, meaning the employer does not contribute any money to the plan until the benefits are paid out. This is in contrast to qualified plans, such as 401(k) plans, where contributions are made on a regular basis.

This Term Refers to an Unfunded Deferred Compensation Plans for a Select