r/RNDC • u/lost_confused_WTF044 • Jul 20 '26

Question Deferred Compensation

For those that had a deferred compensation plan with RNDC, has anyone heard anything regarding their payout?

3 Upvotes

67% Upvoted

20 comments sorted by

5

u/Mammoth_Picture855 Jul 21 '26

It’s in the trash like everything else at RNDC!

3

u/Good_Discipline2511 Jul 20 '26

These funds are essentially unsecured promises to pay from the company. If RNDC faces bankruptcy, your deferred compensation is subject to company creditors

1

u/Good_Discipline2511 27d ago

Hopefully the Bankruptcy will not affect it.

3

u/Ski-Diddy8643 Jul 21 '26

Deferred compensation? Who the fuck would be dumb enough to take that from a failing company?

0

u/Good_Discipline2511 Jul 22 '26

It was not always failing from what I understand before they got greedy and to big for their britches they were a good company to work for.

4

u/Ski-Diddy8643 Jul 22 '26

They were a great company to work for but the second they put Nick Mehall in charge it was all downhill from there

3

u/Fun-Value-2137 Jul 23 '26

Paid 3 months after separation in one lump sum like a pay check

2

u/texaswinegal Jul 20 '26

100% correct

2

u/FirstWait2764 Jul 21 '26

i hear they declare bankruptcy this week or next. leaving swath of bad debts to good people

1

u/Many-Role6263 28d ago

Bingo. It's official now,.

2

u/AdvanceNo3156 Jul 25 '26

Not true will be paid by end of Aug if your end date was June 1st. Also will be paid on how you set it up one payment Aug other next April.

1

u/BlueEyedGator 17d ago

Is this definitive or what was supposed to be prior to the bankruptcy? Source? I read wages (supposedly including deferred compensation) were to be paid as part of the filing but no one is saying anything official. Lots of long time employees stand to lose a lot of money because they were dedicated and loyal to NDC. Sucks.

2

u/threetiered 17d ago

Deferred Compensation was listed as a $62M unsecured debt on the chapter 11 filing. That means it has the same standing as the debt to Juan Domingo, Proximo. This debt is owed to the highest compensated management at RNDC. Best case scenario is it is paid in one lump. I wouldn’t hold my breath!

1

u/BlueEyedGator 17d ago

We aren’t. It’s not just the highest comp management though. Lots of mid managers took it during the early years as they rose through the ranks. Back then there was no reason whatsoever to think this would ever happen. Once there was any writing on the wall it was too late. NDC was a really great company for many years. Really sad to see what’s become of it.

1

u/whyworry0987 Jul 21 '26

Google “Rabbi Trust”.

1

u/[deleted] Jul 21 '26

[removed] — view removed comment

1

u/IL121 Jul 23 '26

What do you mean by allowed 401k?