Newport and Ascensus Partner on Nonqualified Compensation Trends
![Newport and Ascensus Partner on Nonqualified Compensation Trends](https://investorshangout.com/images/blog/ihnews-Newport%20and%20Ascensus%20Partner%20on%20Nonqualified%20Compensation%20Trends.jpg)
Broader Adoption of Nonqualified Deferred Compensation Plans
Newport, an Ascensus company, in collaboration with PLANSPONSOR, has unveiled findings from the latest Newport/PLANSPONSOR NQDC (Nonqualified Deferred Compensation) Trends Survey. The survey indicates a significant shift as more employers recognize the value of NQDC plans in attracting and retaining essential talent, leading to a wider implementation of these plans throughout their organizations.
Survey Insights
This report, published biannually since 2020, is the most comprehensive exploration of employer perspectives on NQDC plans, gathering insights from numerous prominent companies across the nation. Its findings are essential for understanding current trends and challenges in the retirement landscape.
Key Trends in NQDC Plans
One of the significant discoveries from this survey is the rising importance of NQDC plans among small to mid-sized businesses. According to Mike Shannon, Senior Vice President of NQ Strategic Development, this trend demonstrates how these organizations are increasingly implementing NQDC plans as critical components of their benefits offerings.
Attracting Senior Leadership
With the competitive landscape for top-tier talent becoming more intricate, many organizations aim to integrate NQDC options within their broader benefits packages. This strategic move is anticipated to bolster their ability to attract and retain senior leadership by offering robust financial incentives.
Focus on Financial Wellness
Additionally, employers are beginning to recognize the significance of financial wellness programs, including budgeting assistance and retirement planning, as beneficial supplements to NQDC plans. Such offerings not only enhance employee engagement but also contribute to overall employee satisfaction.
The Importance of Communication
The primary goal for plan sponsors remains focused on effective communication with and education of plan participants. By fostering better understanding and usage of these plans, organizations can ensure participants fully benefit from the advantages provided.
Shifts in Plan Administration
Moreover, there’s a growing trend of sponsors considering changes in NQDC plan administrators. This is often driven by the desire to improve service quality, reduce operational costs, or gain access to superior features, highlighting the evolving landscape of service offerings in the NQDC space.
Comprehensive Data for Employers
The survey is crafted to capture a broad spectrum of responses, drawing data from over 265 unique companies spanning 46 industries. The findings provide valuable insights that can assist both employers and executives in assessing the benefits and importance of different plan design features to address workforce needs effectively.
Application of Survey Insights
Financial advisors may leverage these insights when benchmarking plan successes and discussing market trends with clients. The detailed analysis available helps stakeholders quickly access key information, enabling them to maximize the value of Newport's nonqualified plan consulting expertise.
About Ascensus
Ascensus is a leading provider in facilitating tax-advantaged savings solutions. Their offerings encompass a range of services including third-party administration and retirement plan solutions, aimed at helping millions of individuals secure a prosperous future.
Support for Growth and Success
The company excels in enhancing the success of its clients through innovative partnerships. With a robust foundation of industry knowledge and technology, Ascensus delivers comprehensive administrative capabilities for retirement plans and savings programs.
About PLANSPONSOR
As a premier resource for U.S. retirement benefits programs, PLANSPONSOR strives to aid retirement plan fiduciaries in navigating their responsibilities. Powered by ISS Market Intelligence, this brand provides essential data and insights vital for asset and wealth management firms.
Frequently Asked Questions
What is the purpose of the NQDC Trends Survey?
The NQDC Trends Survey aims to provide insights into how employers view and implement nonqualified deferred compensation plans to attract and retain talent.
Who conducts the NQDC Trends Survey?
The survey is a collaborative effort by Newport, an Ascensus company, and PLANSPONSOR, bringing together insights from various organizations.
What key trends were identified in the survey?
Key trends include increased adoption of NQDC plans, a focus on financial wellness, and a significant emphasis on communication and education for plan participants.
How does financial wellness tie into NQDC plans?
Financial wellness programs, such as budgeting and retirement planning, are becoming popular additions to NQDC plans, enhancing the overall employee benefits offering.
What is Ascensus known for?
Ascensus is recognized for providing technology and services that support tax-advantaged savings programs, helping people save for future needs.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Related Articles
- Serve Robotics to Showcase Innovations at Key Investment Event
- Lam Research Corporation to Present at Upcoming Conference
- Couchbase Reports Strong Q2 FY 2025 Financial Performance
- Amcor Appoints Peter Konieczny as New CEO to Drive Growth
- IAC to Join Goldman Sachs Conference Featuring Key Insights
- Citi Forecasts 50bps Rate Cut Amid Labor Market Concerns
- Grant Cardone Expands Real Estate Portfolio in Florida
- Ethiopian Authorities Respond to Price Hikes After Currency Float
- Turkey Coordinates Significant Prisoner Exchange Operation
- Global Central Bank Actions in July: Rate Cuts and Hikes
- U.S. Construction Spending Shows Unexpected Decline in June
- WellCare of North Carolina Donates $100,000 to Camp HOPE America
- Bank of England Reduces Rates, Signals Cautious Future Moves
- GEM SLEEP Coaching Program Revolutionizing Sleep Apnea Care
- Market Landscape: Tech Giants and Earnings Impact in July
- UK Businesses Adjust Wage Growth Expectations Amid Inflation
- Are 401(k) Matching Contributions Beneficial for Everyone?
- FDIC's Sexual Harassment Prevention Measures Criticized Again
- German Ministry Faces Doubts Over Budget Gap Reduction Plans
- Intel's Contract Chip Manufacturing to Generate Revenue by 2027
- Headwall Investments Boosts Portfolio with Houston Acquisition
- Impact of Stock Market Losses on BTC, XRP, and ADA Prices
- Securities Class Action Investigation for Paragon 28, Inc. Shareholders
- Energywell Partners with Branch Energy for Sustainable Solutions
- Novig Revolutionizes Sports Betting with National Launch
Recent Articles
- Grant Cardone Expands Real Estate Portfolio in Florida
- Ethiopian Authorities Respond to Price Hikes After Currency Float
- Old National Bancorp to Speak at Barclays Financial Conference
- Dolce & Gabbana's Fiscal Challenges: A Deeper Look at Losses
- Announcing Colorado Youth Sports Giving Day for Young Athletes
- The Inspiring Investor: Anne Scheiber's Remarkable Story
- URW SE Updates on Voting Rights and Share Capital Details
- Spain's Markets Close Lower as IBEX 35 Declines by 0.58%
- KubeDay Australia: Celebrating Cloud Native Technologies
- Surging Odds for 50bps Fed Rate Cut This September
- WINFARM Reports 9.4% Revenue Growth in Q2 2024 vs 2023
- Solvay Finance Chooses Luxembourg for Transparency Compliance
- Auction Details for RIKB 35 0917 Treasury Bonds
- Cumulus Media's Westwood One Begins 38th NFL Broadcast Season
- ICEYE and Aon Strengthen Partnership to Tackle Disasters
- ASLA Unveils Transformative 2024 Professional Awards Winners
- Explore Local Wines with KSL Resorts' Exciting Package
- BIDFTA.COM Expands Auction Services with Bargain Hunt Deal
- Central Bank Analysts Predict Higher Inflation Rates Ahead
- Projected Growth of Wireless Gigabit Market to $138.8 Million
- Bybit Web3 Launches Babylon Season with Exciting Opportunities
- Concerns Rise Over AI Firms Amid Short-Seller Activity
- Trillion Energy Reports Record Production and Revenue Growth
- Rugged Servers Market Growth Trends and Key Innovations
- Sports Betting Market Growth Expected to Reach $221.4 Billion