The plan must be limited to provide benefits for a select group of management or highly compensated employees. Welcome to the award winning City of New York Deferred Compensation Plan!The 457(b) Plan offers an exclusive opportunity to a select group of management and highly compensated employees to double the tax-deferred contributions. These plans have been dubbed "golden handcuffs'' because they're often used as a retention tool for key talent or highly compensated employees. A NQDC plan is a contractual arrangement between a company and a participant—typically an executive, highly compensated executive, HCE, board member, etc. Fill in the information requested. Plan"), which is an unfunded, non-qualified deferred compensation arrangement for a select group of management and highly compensated employees of the. The Plan is intended to be an unfunded plan of deferred compensation primarily for the benefit of a select group of management and highly compensated employees.