I have a client who has a defined benefit Supplemental Executive Retirement Plan. The question is: what IRS reporting form should payments under this Plan be reported on (W-2, 1099-R, 1099-Misc)? Here are the pertinent facts:
This is a non-qualified Supplemental Executive Retirement Plan aka, SERP
The Plan is unfunded
The covered executives made no contribution to the Plan: IT IS NOT A NQDC!
The defined benefits are computed based on years-of-service combined with a targeted percentage of final average compensation.
The benefits are paid out of general company funds on a monthly basis
There is NO SURVIVOR BENERFIT
There is a very strict anti-alienation clause
There is no option to take a lump-sum payment
Given these parameters, what year-end IRS form should these payments be reported on? Specific cites to IRS rules and regulation would be most appreciated.
