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- Title
RFPs Throw Out the Cookie-Cutter.
- Authors
Barrett-Newman, Mary Beth
- Abstract
The article presents a discussion of nonqualified deferred compensation (NQDC) plans and the effects of standardized requests for proposals. It is advantageous for companies to provide their top managers with NQDC plans. Many benefit managers neglect their standard request for proposals (RFPs) used in finding a 401(k) company. There are eight common mistakes that should be avoided in searching for a nonqualified plan provider. They include: treating the NQDC like a 401(k), not recognizing the differences in oversight functions, and basing the selection of a provider on cost alone.
- Subjects
DEFERRED compensation; RETIREMENT; 401(K) plans; EXECUTIVE compensation; NONQUALIFIED pension plans; PENSIONS; GOVERNMENT purchasing; COMPENSATION management; DEFINED contribution pension plans; EMPLOYEE benefits; RETIREMENT benefits; ACCOUNTING
- Publication
Financial Executive, 2006, Vol 22, Issue 3, p62
- ISSN
0895-4186
- Publication type
Article