Deferred compensation is a form of compensation that allows employees to defer a portion of their salary to a later date, typically after retirement. It is a specialized skill that requires knowledge of tax laws, accounting principles, and retirement planning strategies. Employers who offer deferred compensation plans must carefully design and administer the plans to comply with complex regulations and ensure that they are feasible for employees to participate in. As such, employers often enlist the help of professionals with expertise in deferred compensation to manage their plans.