CAP plans

[Quest4Fire]

We are still employed . My husband's employer offers something called a C AP plan. We are looking for feedback and any opinions regarding CAP plans.

[MDM]

We are still employed . My husband's employer offers something called a C AP plan. We are looking for feedback and any opinions regarding CAP plans.

Have you read the Summary Plan Description, and could you summarize for the audience what it is?

[Quest4Fire]

The summary plan description of the CAP plan is

Capitol accumulation plan is a non qualified deferred compensation plan. Designed to enable you to defer portions of your compensation into the future  on a pretax basis. Allows you to accumulate earnings on your deferrals on a tax deferred basis. I.e. Not subject to income tax until distributed to you. It is subject to social security and Medicare taxes at the the time you defer them. Not a 401A

[MDM]

See nqdc site:bogleheads.org - Google Search and nqdc site:forum.mrmoneymustache.com - Google Search for various pros and cons.