Some organizations find traction with deferred-compensation plans as employees struggle to make up savings foregone during pandemic

The benefit, increasingly popular with executives and other key workers looking to maximize retirement savings, could boost ability to recruit and retain top talent.

By Ted Kitterman      @tedkitkat      
deferred compensation benefits

Retirement savings have taken a beating during the COVID-19 pandemic, just like they did during the 2008 crash. Workers everywhere, some furloughed, some laid off, and others still employed, have been forced to juggle current expenses with savings, and naturally, current expenses take priority. According to a survey from FinanceBuzz, taken in August, 27% of Americans had stopped or decreased retirement savings during the COVID-19 crisis.

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