ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 193: Envision’s Deferred Comp Plans are Terminating

What does the termination of a deferred compensation plan actually mean for employees? In the case of Envision, it appears to mean receiving a windfall of money upfront that was likely earmarked for retirement purposes. And if that wasn’t challenging enough, there’s inevitably going to be a tax hit that may not be fully realized until over a year after the funds are received. That’s a lot of responsibility and will definitely test the discipline and planning system of these affected ER docs.

So in today’s episode, we’ll discuss the specifics of Envision’s deferred comp plan termination (dates, distributions, and of course the tax impacts you should be aware of), but also give our insight into these plans in general when it comes to a savings option for ER docs.

Topics Discussed:   

  • Why this termination is important.
  • The downsides to participating in and contributing to these plans.
  • The tax impacts of the changes in deferral plans.
  • What to consider if you’re contributing to one of these plans (or thinking about it).
  • What to look into, whether you're participating in a plan or not.

Resources Mentioned:


Envision, deferred comp plan, termination, contributions, retirement, distributions, tax liabilities, savings, financial planning, financial planner, emergency medicine, ER docs, emergency doctors