What type of retirement plan is not required to have a vesting schedule, is not approved by the irs, can discriminate in favor of highly compensated employees, and can benefit the employer?

A non-qualified retirement plan

Explanation:

The main characteristics of non-qualified retirement plans are:

Are not eligible for tax deferral benefits under the Employee Retirement Income Security Act (ERISA) of 1974.Therefore the taxpayer cannot deduct contributions from their gross income, but they can defer taxes until they retire. Contributions made by employers are usually non-deductible.Generally high-paid executives or wealthy individuals choose non-qualified plans in addition to a retirement savings option.Non-qualified plans are also used as executive bonus plans in order for them to have higher income at retirement.