|
Supplemental Executive Retirement Plans (SERPs) and Non-qualified Deferred Compensation Plans represent an important piece of any executive’s benefit package. In order to attract and retain key people to your business, it’s essential to provide a compensation and benefits package that meets the needs of the executive and recognizes their differing needs from the general population. Our ability to design and implement effective programs will allow you to reward and retain your key personnel. SERPs This option is among the most popular for companies as it allows them to select the key employees for whom to provide additional retirement benefits. The advantages of SERPs are many including: ¨ Minimal reporting requirements ¨ Contingent benefits ¨ No costs to key employees Voluntary Deferred Compensation These programs offer the executive to defer current income for the promise to be paid benefits at a future date. The deferred compensation agreement will determine the manner and date of such payments. As these programs are subject to the general creditors of the company, the financial stability of the company is an important factor in these plans. Non-qualified Deferred Compensation These types of programs attempt to offer the best features of both SERPs and voluntary deferred compensation plans. They offer considerable flexibility and are often designed in coordination with any qualified plans. Coordination with Qualified Plans While many executives desire a non-qualified plan, it’s important to make sure that we fully utilize the qualified plans. With the Economic Growth and Tax Relief Act (EGTRA) of 2001, non-qualified plans should be reviewed to determine if some of these benefits can be provided through the qualified plans.
|
|
Non-qualified plans allow you to tailor benefits on an individual level to meet particular needs. |
|
To contact us: |
Executive Compensation |
|
Primoris Advisors Parker Elmore Connecticut Form 5500 Www.primorisadvisors.com Www.parkerelmore.com
|