A plan maintained by an employer solely to provide certain employees with benefits that exceed the limits that apply to qualified retirement plans under Section 415 of the Internal Revenue Code (IRC). Only a plan maintained solely for the purpose of providing contributions and benefits in excess of those permitted under Section 415 of the IRC qualifies as an excess benefit plan. Plans designed to make up for other limits are not excess benefit plans.

Unfunded excess benefit plans are exempt from all of the requirements of Title I of the Employee Retirement Income Security Act of 1974. In addition, unlike top hat plans, there is no limit on the number or type of participants.