409A Direct Launches the First Online Platform for Nonqualified Deferred Compensation Plan Design and Implementation

TAMPA, Fla., March 20, 2024 /PRNewswire/ -- 409A Direct today announced its launch, giving small- to medium-sized businesses access to a technology platform for creating and implementing nonqualified deferred compensation plans (NQDCPs) online.

"Our groundbreaking technology platform provides small- to medium-sized businesses [SMBs] with the ability to design, financially model and implement nonqualified deferred compensation plans at a lower price point and more quickly than the traditional route," explained 409A Direct founder and CEO Todd Mezrah. "409A Direct enables SMBs to enhance their executive compensation programs by building robust and compliant plans in less than a third of the time it typically takes."

According to company CFO Angela Spurlin, "The SMB market is generally comprised of companies with less than $1 billion in revenue and less than 1,500 employees—that's roughly 33 million businesses—a whopping 99% of all businesses in the United States." She added, "Attracting and retaining key employees is more important than ever, making it more competitive than ever. As a result, we're seeing more SMBs looking to offer deferred compensation plans as a benefit for key employees—and our one-of-a-kind platform gives them a secure online option to implement a plan quickly and economically."

"Most large businesses already offer NQDCPs to their executive teams. Our user-friendly, guided process takes a complicated benefit strategy and streamlines it at a lower cost, opening up the DCP option to smaller businesses looking to attract and retain key employees. We like to call it 'The do-it-yourself DCP,'" said Vice President Katie Censoplano.

About 409A Direct

409A Direct is the first solution for automating nonqualified deferred compensation plan design, funding, implementation and administration. The company utilizes one-of-a-kind technology to provide a secure, scalable, 409A-compliant, automated experience for small- to medium-sized companies throughout the U.S. to implement deferred compensation plans quickly, easily and cost-effectively. Visit https://409ADirect.com. [Disclosure Notice.]

For more information
Todd Mezrah
O: 813-776-6933
Email: [email protected]

SOURCE 409A Direct

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