Executive Benefits

Recruiting and retaining key executives and employees can be critical to your organization’s success. We work with clients to develop and implement Executive Benefit Programs. With these programs employers can select which individual or class of employees they want to include.

Listed below are some of the programs that can help you to build a management team who will feel like they have an “ownership stake” in your organization.

Phantom Stock Plans

Provides an employer with an opportunity to reward select employees based on the organization’s performance without sharing an equity interest.

Non-Qualified Deferred Compensation

Provides retirement and death benefits to employees who satisfy stated service and/or performance requirements. Employers often acquire life insurance to indemnify them for the amount that will become payable to the employee under such arrangements.

Supplemental Executive Retirement Plan (SERP)

The employer sets aside a contribution amount each year for the employee. The contribution amount may vary each year based upon the employer’s objectives. The employee’s benefit at retirement or separation of service is based on the account value at that time. The employer can establish a customized vesting schedule for each employee.

Deferred Income Plan

This allows the employee to defer a portion of their salary or bonus each year. The amounts deferred are not subject to income tax until they are distributed. The plan can be structured to allow for an employer matching contributi9on. The employee is vested in their deferrals; the employer may choose to impose a vesting schedule on their contributions.

Executive Bonus

The Employer provides a compensation bonus to the employee. These funds can be either invested in a brokerage type account or used to purchase a permanent life insurance policy. The employer receives an immediate tax deduction for the bonus amount, and the employee must include the bonus amount as income.

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