Deferred Compensation vs maxing out mega backdoor roth

Hello All, Seeking advice on the best plan of action, since open enrollment for 2025 is here and I need to make a decision in the next ~10 days.

• I have been maxing out my 401k + mega backdoor roth to the tune of 69K

• However, the mega backdoor roth uses post-tax money , so I am not getting any immediate tax benefit out of it.

• My employer offers a non-qualified deferred compensation plan, which I can fund using pre-tax dollars.

• I have read-up on some of the cons of the non-qualified deferred comp plans, and I am reasonably confident that my company will not go bankrupt in the next 20 years.

Looking at the situation above, my thought process is that the post-tax money that I am currently using to max out the mega backdoor roth can be diverted towards the deferred comp plan.

• My take home pay remains the same, so I dont need to make any budget/lifestyle changes
• I get an immediate tax benefit - close to 43% between federal and state. Being a W-2 employee, my taxes are the biggest "expense" for me and this seems like a good way to reduce those expenses.

Would appreciate any insights/thoughts on the above and if I am overlooking anything major.