In support of the current Southwest Airlines open enrollment window, we are presenting a break down of what benefits are available and how to choose the best one for your situation. Today we are discussing Non-Qualified Plans.
November 1-26th is the Southwest Airlines Non-Qualified Plan enrollment and change window. Non-Qualified Plans can be VERY confusing. In this video, Charlie and Kevin try to clear up some confusion by discussing the 3 plans offered by Southwest Airlines: Excess Benefit Plan, 401(a)(17) Plan and Deferred Compensation Plan (Top Hat). They also discuss what you should consider before investing in a non-qualified plan and the pros and cons of saving your money in this capacity.
To enroll, change your elections or unenroll, log into www.freedomtoretire.com. Additionally, SWAPA has tremendously helpful resources available on their 401(k) Resource Center on the SWAPA website (see graphic below).
Don’t know if you’re eligible? Participation in each plan is dependant upon annual salary levels. Give Charlie or Kevin a call to discuss your situation and receive specific advice. As always, we are available for any questions you have.
SWAPA 401(k) Resource Center
(Leading Edge Financial Planning receives no monetary benefit and is not affiliated with the Southwest Airlines.)