Executive Benefits

Best-in-Class Asset Management Services

Executive benefit plans are used by organizations to protect their human capital. Whether recruiting, rewarding, or retaining an executive, a well-designed plan reflects the needs of both the organization and the executive. Executive benefit plans include a variety of plan types, including:

  • Nonqualified deferred compensation plans – 457(f) and 457(b) – Also known as Supplemental Executive Retirement Plans (SERPs) or “Top Hat” plans, these plans provide supplemental benefits beyond what is provided by traditional benefit plans like a 401(k) and defined benefit pension plan.
  • Incentive and Bonus Plans (Section 83 Restrictive Bonus Plan) – These plans appeal to executives whose time horizon to retirement is much shorter or longer than the average executive.
  • Split Dollar – Split dollar plans can be an attractive benefit for both the organization and the executive. Split dollar plans have appealing tax advantages and can ultimately return plan expenses, plus interest, back to the organization.
  • Death Benefit Only Plans – This provides an executive’s designated beneficiaries with a lump sum benefit should the executive die while employed by the credit union.

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The best way to get started is to schedule an informal discovery call where we discuss at a high level your challenges and what you wish to accomplish. Our client relationships often start with an educational session (which may include your board of directors) to explain how the different types of plans work. Ready to send a RFP? Need a vendor due diligence package?

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