Great-West Introduces New Non-qualified Plan

December 18, 2007 ( - Great-West Retirement Services has introduced a new non-qualified savings plan to help small business owners and their executives accumulate retirement savings above the limitations of qualified retirement plans.

According to the announcement, the Individual Retirement Bonus (IRB) product provides tax-deferred growth of earnings on contributions and a selection of diversified investment options. Unlike traditional non-qualified deferred compensation plans, employer contributions to the IRB product may be deducted immediately and deferred amounts are not subject to the company’s creditors.

The product offers a setup and implementation without complicated accounting, recordkeeping, or administrative requirements, in most cases, the announcement said.

With the non-qualified plan, there are no contribution limits, no eligibility or participation requirements, and no accrued liability on the company’s balance sheet.

More information is at .