secular trust

secular trust definition - business

secular trust

A nonqualified deferred compensation arrangement for key employees and executives with contributions and trust income considered as taxable income to the beneficiary. Assets in a secular trust are not subject to claim by creditors of the employer in the event of the employer's bankruptcy.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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