A top-hat plan is a nonqualified deferred compensation plan that lets highly compensated employees
defer taxes on pay and any employer-matching funds.
This can mean larger retirement funding for highly compensated employees
Note: For this exclusion to apply, the nondiscrimination roles as to highly compensated employees
must be satisfied.
Loans between a retirement plan and a disqualified person may be allowed if they are available to all participants and beneficiaries on a reasonably equivalent basis, are not made to highly compensated employees
for amounts greater than those made to other individuals, are made according to specific plan provisions, bear reasonable interest rates and are adequately secured.
During the last year we offered a similar program known as the Cash to Option Program to other highly compensated employees
Sufficient income protection for highly compensated employees
facing indefinite disability is sorely lacking.
The following mandates are applicable only to those plans not grandfathered: nondiscrimination rules that prevent disproportionate benefits from being provided to highly compensated employees
over non-highly compensated employees
; implementing an external review process in addition to the internal review process; participant discretion in selecting physicians, pediatricians and obstetricians/gynecologists; and preventive care must be provided entirely at the employers' expense.
Highly compensated employees
are those employees who were paid more than $105,000 in the past year or own more than a 5 percent interest in the employer.
He has achieved successful results for his clients, whether defending a single plaintiff discrimination claim before a state administrative agency or in a complicated, multi-plaintiff litigation involving a group of highly compensated employees
and MassMutual Financial, believe it has much potential as a benefit for highly compensated employees
If your life insurance discriminates in favor of highly compensated employees
according to Section 79 (for example, you offer three times salary as a benefit for your highly compensated employees
and one times earnings for all other employees), you must impute income for the full value of the life insurance benefit for your highly compensated employees
Loans cannot be made available on a basis that discriminates in favor of highly compensated employees