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Insurance Glossary

Industry jargon and unfamiliar terminology can be confusing.

No insurance resource would be complete without a helpful menu of terms and concepts. This information-rich list will help you make sense of the solutions you are considering.

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Deferred Compensation Plan: Employee Benefits

  • Additional deferral opportunities not subject to qualified plan limits and penalties
  • Can provide pre-retirement survivor benefits
  • Supplements retirement income not available through 401(k) or profit-sharing plans
  • Based on commencement date established in the agreement, employer can begin distribution of the deferred compensation
  • May provide access to funds in the event of financial hardship