### Question
What does nonqualified deferred compensation plan mean?


### Answer
**Nonqualified deferred compensation plan** has the following meaning in *26 U.S.C. § 3306*:

> any plan or other arrangement for deferral of compensation other than a plan described in subsection (b)(5)

#### Citation:
  - *26 U.S.C. § 3306*
  - Heading: **Subtitle C-Employment Taxes > CHAPTER 23-FEDERAL UNEMPLOYMENT TAX ACT**

