Originally Posted by
KnotSoFast
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Not the precise definition. A SERP is a NQDC "top hat" plan typically granted to execs at larger companies. They do NOT conform to the 401(a) rules (thus the Non-Qualified part of NQDC). A SERP is a Supplemental Executive RETIREMENT PLAN. They typically have nothing to do with retention and are ubiquitous at large healthy companies.
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Whatever SERPs may "typically" be, in
this case management justified them as a retention tool (neglecting to require that the recipients actually stay). Delta also paid the taxes for them.
Delta's Retention Program Fails To Stop Some Executive Departures - WSJ
One of the contributors to this WSJ article produced a book called
Retirement Heist, which revealed nationwide looting of employee pension funds:
Retirement Heist - Pension Fraud Book - Ellen Schultz