Life · Chapter 10 · Executive Benefit Plans
Salary Continuation Plan
Definition
A corporate-sponsored benefit that replaces an executive's income at death, retirement, or disability. Funded by the EMPLOYER (the key difference from deferred compensation, which defers the employee's own pay). May be exempt from ERISA if confined to a select group of highly compensated individuals; begins with a written agreement.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
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