What does the termination of a deferred compensation plan actually mean for employees? In the case of Envision, it appears to mean receiving a windfall of money upfront that was likely earmarked for retirement purposes. And if that wasn’t challenging enough, there’s inevitably going to be a tax hit that may not be fully realized until over a year after the funds are received. That’s a lot of responsibility and will definitely test the discipline and planning system of these affected ER docs. 

So in today’s episode, we’ll discuss the specifics of Envision’s deferred comp plan termination (dates, distributions, and of course the tax impacts you should be aware of), but also give our insight into these plans in general when it comes to a savings option for ER docs.