New findings in a study conducted by Boston Research Group on behalf of Principal Financial Group Inc. show that offering nonqualified deferred compensation plans is important for recruitment and retention.
Nonqualified deferred compensation plans are a form of retirement plan for "key employees" within a company, or employees identified as most critical to a business.
Such plans allow them to contribute more than they would be able to in a qualified plan.
In the survey, 69 percent of key employees said the plans are important when making a decision to take a new job, and 61 percent say the plans are important in their decision to stay with a current employer.
For more information on the study, click here.