Employers with deferred compensation plans have an advantage in retaining key employees.

“As the economy begins to improve, retaining key employees is critical to the success of the business. These employees have worked harder with less and want to be recognized,” said Gary Dorton, vice president of nonqualified benefits for the Principal Financial Group, said in a statement.

“Our research shows employers and their employees are generally satisfied with their deferred compensation plans, but certain drivers can increase satisfaction and may contribute to employee loyalty.”

About 64% of employees in deferred compensation plans say the plan is important to their decision to stay with their current employer, according to new research from The Principal.

Nine out of 10 (92%) view the plan as important in reaching their retirement goals, according to a white paper from the company.

The white paper analyzes the impact nonqualified deferred compensation plans have on employers and their key employees. The conclusions are based on an in-depth study of nonqualified deferred compensation plan sponsors and plan participants conducted in conjunction with Boston Research Group.

The white paper found that benefit plan satisfaction is derived from having information regarding investment decisions, the ease of finding summary plan benefit information and providing education tools like retirement calculators.