- what is an executive benefit?
- What are the advantages?
- How to get started?
What are Executive Benefits?
Simply put, an executive benefit is an agreement between employer and employee - a promise.
An executive benefit plan will help your company protect it’s investment in the key people who make the most significant contributions to the organization’s success. Every compensation dollar represents a capital investment in the goals and strategy of an institutions business plan.
Today’s executives are a highly marketable group of individuals. More and more professionals have acquired dynamic skills and abilities that are adaptable to many business situations. The best of these leaders find themselves sought after by other institutions. What steps can you take to ATTRACT, REWARD, and RETAIN those talented employees in whom you have invested valuable time and specialized training?
An effective executive benefit strategy can help create that fit by addressing the unique contributions that officers, executives and key employees make to the success of the enterprise. An executive carve-out plan should reinforce a culture in which exceptional people work together to create exceptional business.
A successful executive benefit plan can be measured in motivation of increased productivity, loyalty and ownership level commitment.
What are the Advantages?
Non-qualified executive benefit plans create flexibility for an employer that traditional qualified plans may not offer. In a non-qualified plan the employer has the ability to carve out certain highly compensated individuals they would like to reward for their increased value to the organization. The plan can be tailored to specific individuals, various vesting schedules, retirement features and death and disability clauses.
In a non-qualified plan, the executive will no longer have the same contribution restrictions that traditional retirement vehicles impose. The executive may also enjoy preferential tax treatment on the growth of the assets prior to retirement
Executive benefit plans are designed to accomplish specific objectives of an organization. Whether to ATTRACT, REWARD, or RETAIN key people, the plan document creates the terms of the agreement between employer and executive. The agreement clearly outlines the expectations and rewards that both the employer and executive will abide by and receive when complete.
How to get started?
To determine if Telford Financial Executive Benefits can help your organization adopt an ARR philosophy and or an executive benefit carve out plan please email us here or call us at 877.525.3034 for an initial consult:
Executive Benefit Consulting
Telford Financial Executive Benefits is a Comprehensive Executive Benefits firm providing institutions throughout the country a unique process of Collaborative Compensation Planning to Attract, Reward and Retain the key people who drive the success of the organization. As a trusted advisor in institutional planning and nonqualified executive compensation, Telford Financial Executive Benefits will guide your organization through the 5 step ARR Unique Process. Learn More »
Plan Design / Education
Telford Financial Executive Benefits has years of experience designing executive benefit plans that reinforce the mission, culture and goals of the organization, a process called ARR Blueprint. As part of the ARR Unique Process, a Telford Financial Executive Benefits Adviser guides the officers, executives and board members through an education process called ARR University. During these critical meetings, plan design features, financing strategies and cost recovery methods will be discussed. Learn More »
Implementation / Management
Telford Financial Executive Benefits is a consulting firm as well as an implementation and plan management firm. Through ARR Action Accelerator, a Telford Financial Executive Benefits adviser will help your organization adopt an ARR Philosophy and plan. Ongoing plan management services are also provided through Telford financial Executive Benefits including an ARR Impact on Earnings analysis. Learn More »