Broker Check

72 White Oak Road
Wellesley, MA 02481

LinkedIn YouTube

Helping Companies, Individuals & Non-Profits

813-789-4846

 

Executive Benefits

Do You Want To Maximize Your Retirement Savings?

Business owners and key executives sometimes find it difficult to save adequate amounts of money for retirement using traditional restrictive qualified retirement plans. Additionally, attracting, retaining and motivating key executives may require the help of financial incentives created through various executive benefit programs.

We have the knowledge, understanding and experience to review and evaluate your current plan or help you decide which plan is best suited to your key executives.


Executive Benefits Services Include:

  • Salary Continuation Plans
  • Split Dollar Insurance Plans
  • Deferred Compensation Plans
  • Supplemental Executive Retirement Plans (SERP)
  • Executive Bonus Plans
  • Executive Group Term Carve-Out Plans
  • Executive Disability Income and Long Term Care Plan

________________________________________________________

Definition of “Non-Qualified Plan”

Any type of tax-deferred, employer-sponsored retirement plan that falls outside of employee retirement income security act (ERISA) guidelines. Non-qualified plans are designed to meet specialized retirement needs for key executives and other select employees. These plans also are exempt from the discriminatory and top-heavy testing that qualified plans are subject to.

There are four major types of non-qualified plans:

1)     Deferred compensation plans

2)     Executive bonus plans

3)     Group carve-out plans

4)     Split-dollar life insurance plans  

The contributions made to these plans are usually nondeductible to the employer, and are usually taxable to the employee as well. However, they allow employees to defer taxes until retirement, when they are presumably in a lower tax bracket. Non-qualified plans are often used to provide specialized forms of compensation to key executives or employees in lieu of making them partners or part owners in the company or corporation.