Your key executives are responsible for driving the success of your organization.
An executive benefit plan is a contractual commitment by an employer to a select group of employees to provide supplemental retirement benefits at a future date. Because there are no coverage, eligibility or participation requirements, an employer can decide to provide non-qualified deferred compensation benefits only to a select group of executive or highly compensated employees.
This allows the employer to provide rewards and incentives based on an employee-by-employee approach, offering maximum design flexibility.
The advantages of cultivating a high-performing executive team are many: keeping institutional knowledge in-house, avoiding operational disruptions, advancing strategic priorities, and more. A robust executive benefits program is a powerful tool to attract the best talent, retain top executives, and motivate your current leadership.
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Executive benefits can help organizations create a more compelling compensation strategy for select executives and highly compensated employees while supporting long-term retention and leadership continuity.
These plans may provide supplemental retirement benefits, deferred compensation opportunities, replacement income, and enhanced benefits in the event of an acquisition or other change of control.
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