Executive Benefits
Staying ahead in today's marketplace isn't easy. Competitive pressure, corporate governance issues, changes in legislation and tax reform have changed the way executives are compensated. Attracting and retaining the best talent to help grow your company requires a comprehensive benefit package that fits your corporate objectives – while meeting regulatory requirements.
Remain competitive by attracting, retaining, and rewarding top executives who have the ability to make a difference in your bottom line.
Value drivers white paper
Provide Incentives to encourage executives to stay with your company.
Short term incentives white paper
Create management benefit packages that motivate long term performance.
Incentive planning white paper
Provide retirement benefits commensurate with pre-retirement pay levels – while overcoming limitations and restrictions imposed by traditional pension, profit-sharing and welfare benefit plans.
Resources:
“How Should Corporations Combat Erosion Of Executive Benefits”
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Qualified Plans
How should corporations maximize the value of retirement plan benefits?
Over the past decade, the environment for company-sponsored retirement plans has shifted from defined benefits plans to the dominance of the 401(k). As popular as the 401(k) remains, these plans have given rise to consistent complaints.
For example, employers and employees alike are concerned when they cannot get timely, accurate data on the status of the plan. Employees may perceive a lack of investment diversity to meet their allocation needs. And highly paid employees may become frustrated when their contributions are limited by low participation among the general employee population.
If your plan suffers from these problems, you can overcome them at the design level. Using an ideal plan design as the starting point, your plan could include...
Complete Investment Independence
Assessing fiduciary responsibility
Daily valuations of account balances for all participants.
Internet or toll-free participant access to account balance.
Fiduciary compliance expertise designed to protect and insulate the plan sponsor from potential corporate and personal liability.
Mutual fund record-keeping fee offsets designed to lower employer costs.
Customized employee education programs.
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Supplemental Retirement Plans
The Challenge
Business owners, key employees, and high income earners are finding it more difficult to adequately save for retirement. Why? Qualified retirement plans and group insurance plans, even Social Security, place limits on contributions, payouts and tax advantages of benefits for highly-paid individuals. We may need at least 80 - 100% of pre-retirement income to maintain our current standard of living in retirement.
The Income Gap
With qualified plans and Social Security alone, you and your key employees could receive as little as 30% of your current income at retirement - creating a retirement income gap. Cash values from life insurance can help fill the income gap.
Tax-Efficient Asset Management
Many types of investments produce ordinary or passive income. The taxes on this income are a drag on the net investment return and overall appreciation of the investment. The ability to manage your investment in a tax efficient manner by reducing or eliminating these tax can produce a significantly better tax-equivalent result, along with providing a self-completing tax advantaged death benefit when structured properly.
Professional Advisor Support Services
Through our affiliation with New York Life's Nationally Renowned Advanced Planning Group we are uniquely positioned to support professional advisors on life insurance matters. In today's complex world, professional advisors are being asked to be involved in the planning and due diligence for all financial transactions including life insurance.
Here is a listing of some of the many ways we have been asked to provide value and support for professional advisors and their clients:
Life insurance policy audit
Create a life insurance inventory
Client Needs Analysis
Product Due Diligence and Carrier Evaluations
Estate Tax Projections
Estate Tax Liquidity Analysis and Discounted Payment Options
IRC 6166 Analysis for Business Transfers
Private Finance Consultations
Premium Finance Evaluations
Supplemental Retirement Plans
Buy-Sell Planning
To learn more about these services, please click here to visit the Advanced Planning Group's website.