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Deferred compensation is a benefit primarily available to corporate executives. It allows individuals to earn income today but defer it to a future date. The presentation covers several key aspects of deferred compensation: understanding what it is and when to use it, key tax timing considerations, and the necessary decisions involved in opting for this benefit. The primary reasons for using deferred compensation are to achieve tax savings, as it can help individuals defer income from a higher tax bracket to a potentially lower one in the future. Additionally, the discussion includes the pros and cons of deferred compensation and its impact on overall financial planning.