Executive Benefits
Key employees are hard to find—and even harder to keep—but the right executive benefits package can be an important tool in your retention strategy. We can help you identify and administer additional compensation and protection tailored to their needs that will help differentiate you from the competition.
We’ll Do The Heavy Lifting, So You Don’t Have To.
We start by gaining a clear understanding of your overall goals and objectives. Sometimes, gaining an edge in recruitment and retention isn’t the main objective. You may want to fill in gaps you’ve identified in your existing programs, reduce costs, or simply reward key employees. Whatever your need, we can help you every step of the way.
Plan Design
Utilizing data-driven analyses and financial modeling, we’ll help design the most effective plan for both your company and executives.
Benchmarking
We’ll utilize tools and resources, such as compensation surveys, to benchmark your executive benefits against industry standards.
Implementation and Administration
We can lead the setup of your plan and provide administrative support from enrollment to ongoing management and compliance tracking.
Common Executive Benefits Options.
Executive benefits are unqualified plans, meaning there are no coverage or participation requirements to meet. You can provide these benefits and incentives on an employee-by-employee basis. Some of the most common options include:
- Deferred Compensation: Allows executives to receive part of their earnings at a later date.
- Supplemental Executive Retirement Plans (SERPs): Offers personalized retirement benefits to supplement traditional pension plans.
- Loan Regime Split Dollar (LRSD): A form of life insurance ownership where a company lends the premiums to an executive for a cash value policy at low Applicable Federal Rates (AFR).
- Restricted Endorsement Bonus Arrangement (REBA): A form of life insurance ownership where a company can bonus an executive the funds to pay for a cash value life insurance policy that the executive owns.
- Disability Insurance (DI): Covers the difference between what the employee will receive from the employer’s group long-term disability policy and what they need to maintain their lifestyle if they become disabled.
Request A Business Risk Review.
See what a review of your current insurance coverage uncovers. You may find that you’re adequately protected. You may find otherwise. Either way, you deserve to know for your peace of mind.