Employers

Nonqualified Deferred Compensation Plan and Service Options

Many companies rely on nonqualified deferred compensation (NQDC) plans as a strategy for offering highly compensated employees more flexible compensation options when faced with the contribution limitations of other retirement savings plans. The team at Great-West Retirement Services® has the expertise to help you design and administer an NQDC plan that can work to the advantage of your company and your participants.

Plan Design

• Competitive benefit design based on industry best practices
• Diverse array of benefit benchmark options
• Funding alternatives
• Mutual funds — retail mutual fund array consistent with 401(k) fund array
• Corporate-owned life insurance
• Cost analysis of funding alternatives
• Review of externally drafted document for system and service compatibility
• In-service distributions

Plan Implementation

• Provide individually designed Great-West proprietary plan document
• Provide Rabbi Trust agreement or custodial agreement (depending on selection by plan)

Plan Participants

• Daily valuation of participant accounts
• Transfers of existing balances between benefit benchmarks and redirect future contributions
• Quarterly statements
• Access to account information via the same participant website as the qualified plan

Plan Administration

• NQ Operations support
• Trustee services (if elected)
• Online access to participant account information
• Daily valuation of assets and liabilities
• Monthly asset/liability information, reports and rebalancing¹ services
• Online enrollment for annual enrollment and for newly eligible participants
• Money bucket tracking for vesting and distribution (plan sponsor approval required)
• Suite of participant-level forms: 
  • Distribution
  • Enrollment
  • Beneficiary designations
  • Death claims
  • Participant information changes
• Annual enrollment materials and training webinars (upon request)
• Beneficiary tracking

System Features

• Distribution tracking and automation
• System generated confirmations to participants
• Online enrollment for annual enrollment and for newly eligible participants
• Income tax withholding upon distributions, and tax reporting

For more information, email: NQ-Sales@gwl.com

¹Rebalancing does not ensure a profit and does not protect against loss in declining markets.

Access to the voice response system and website may be limited or unavailable during periods of peak demand, market volatility, systems upgrades/maintenance or other reasons.

Representatives of GWFS Equities, Inc. are not registered investment advisers, and cannot offer financial, legal or tax advice. Please consult with your financial planner, attorney and/or tax adviser as needed.

The principal underwriter is GWFS Equities, Inc., and core securities, when offered, are offered through GWFS Equities, Inc. and/or other broker dealers.

Great-West Retirement Services® refers to products and services provided by Great-West Life & Annuity Insurance Company, First Great-West Life & Annuity Insurance Company, White Plains, New York and their subsidiaries and affiliates. Great-West Life & Annuity Insurance Company is not licensed to conduct business in New York. Insurance products and related services are sold in New York by its subsidiary, First Great-West Life & Annuity Insurance Company. GWFS Equities, Inc. is a wholly owned subsidiary of Great-West Life & Annuity Insurance Company.

Variable Universal Life (VUL) insurance policies (J355 Series, J378 Series and PPVUL Series) and appropriate state variations are issued by Great-West Life & Annuity Insurance Company; Corporate Headquarters: Greenwood Village, CO. Variable Universal Life (VUL) insurance policies (J355NY Series and PPVUL-NY Series) are issued by First Great-West Life & Annuity Insurance Company; Corporate Headquarters: White Plains, NY. Policies issued by First Great-West Life & Annuity Insurance Company are only available in the State of New York. Policies may not be available in all states. Certain restrictions apply.