NONQUALIFIED PLAN
\nˌɒnkwˈɒlɪfˌa͡ɪd plˈan], \nˌɒnkwˈɒlɪfˌaɪd plˈan], \n_ˌɒ_n_k_w_ˈɒ_l_ɪ_f_ˌaɪ_d p_l_ˈa_n]\
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A benefit plan for an employee that does mandate the filing with the IRS and as such tax deductions in exchange for contributions are not offered. Under the nonqualified plan, certain employees gain more benefits due to employer discrimination.
By Henry Campbell Black
