today's high-tech economic climate, key executive personnel are
becoming increasingly difficult to retain. Clients often seek new
and innovative incentives and rewards to retain and challenge an
employee who is vital to the financial health of a business.
packages must become ever more creative in providing incentives
which promote retention of those key employees.
||Split Dollar Life Arrangements (to current IRC PS 58 schedules)
||Nonqualified Deferred Compensation Modeling
||Business Continuation Contingency Planning
most key executives are also highly compensated (per IRC
Sec 414) and invariably contribute the current allowable maximum
into their qualified retirement plan, deferred compensation modeling
becomes the more prevalent and viable option. A Nonqualified
Deferred Compensation Plan can be individually designed for
each employee utilizing corporate owned life insurance (COLI) as
the funding vehicle.
Compensation Plans can be mutually beneficial to both employer
and executive. Yet the interrelationship between the agreements
and the underlying funding vehicle (COLI) can become quite complex.
Professional consultation is therefore highly recommended in establishing
a Deferred Compensation Plan.
Us for more information on how The Washington Insurance Group
can serve your Executive Compensation needs.