1) Executive compensation and wealth enhancement
2) Long term incentive planning
3) Equity or mirror equity plans
4) Retaining management and key employees/performers increases the value of the business
Discover – what is the goal of the plan and what are the important factors, such as length of time of business hold, taxes etc.
Design – Blueprint a plan which meets company leadership goals, effectively reducing risk of key personnel turnover, while also providing security and benefits to executives and their families
Implement – Professional, efficient installation of the plan including communications, online enrollment (where appropriate) and constant attention to detail.
Update – Over time business needs may change, employees age out, and service providers are monitored for performance and efficiency.
Key Person and executive benefit plans allow for:
Companies to send benefit dollars to those most responsible for results
Help build executive wealth and retirement values
Reduce taxation on the company, execs, or both
Retain personnel beyond the capacity of traditional retirement plans such as 401(k)s
Reverse the inherent discrimination in qualified plans