I have a nonqualified deferred compensation plan, which the investment company told me was not a nongovernmental 457 plan. They described it as a "nonqualified supplemental retirement plan."
How do I answer TurboTax's question, "Is this a nonqualified pension plan"? The investment company said they don't consider it to be a pension plan.
Does TurboTax consider "nonqualified supplemental retirement plans" to be the same as "nonqualified pension plans"?
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The terms "retirement" and "pension" are interchangeable for income tax purposes. So YES it is a non qualified plan.
OK, thanks so much!
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