Examples of Nonqualified Plans in a sentence
All monthly assessments, user charges, late charges, fines and other costs that the Association may charge under the Declaration, are due and payable by 5:00 p.m. on the first day of each month and considered late on the second day of the month.
Do not include in item "4" payments:• For annual, sick, holiday or vacation pay if used (absence from work) prior to the date of retirement (earlier of items "2" or "3").• That were reported or will be reported under "Nonqualified Plans" on the Form W-2.• That were deducted from the employee's wages and paid to a deferred compensation plan (e.g., 401k).• Employees health and dental plan benefits (non-covered/non-taxable for Social Security Wages).• Bonuses earned and paid in the tax year.
Nonqualified Plans – Distributions received from a nonqualified employee plan by a nonresident of Wisconsin are taxable by Wisconsin if the payment is attributable to services performed in Wisconsin.
The Company has acquired and holds certain life insurance policies on the lives of participants in certain of such Nonqualified Plans to fund the Company’s obligations under certain of such Nonqualified Plans, and the cash surrender value of those life insurance policies as of the date hereof equals or exceeds the Company’s liability under the applicable Nonqualified Plan as of the date hereof.
EBN published a whitepaper on this topic in 2013 titled “Tax Effects on BOLI and Nonqualified Plans in Bank Mergers & Acquisitions”.