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executive Benefits & retirement planning

Talented and experienced executives are a company’s most valuable asset. To maintain a competitive advantage in the marketplace, companies need to structure executive compensation, benefit and retirement packages that attract, motivate and retain top level talent. Executives value advantages of access, economic considerations and tax efficiency which may only be obtained through customized employer sponsored programs. A program tailored to your organization can:

  • Position the organization to more effectively compete for executive and technical talent and align their commitment to long term corporate goals
  • Position highly compensated employees to help maximize tax-deferred wealth accumulation strategies and align their future with the corporate mission

Developing the right program begins with a review of what your executives value in their compensation package. Our comprehensive approach to plan design begins by asking questions such as:

  • If you do not have an executive benefits plan, what is your competitive position within your hiring market? Within your industry? What has been your turnover record for highly compensated employees? What is the real cost of that loss?
  • How do your executives value such components of their economic package such as current compensation, soft dollar benefit compensation, incentive compensation and future retirement funds?
  • What is the company philosophy and track record for rewarding loyalty, longevity and productivity? How do you align your executives' personal financial goals to corporate financial goals? Can your company establish a rewards-based compensation package available on a no-cost basis?
  • Do executives have the ability to contribute sufficient amounts to retirement savings plans? What opportunities to increase their tax deferred investments would they use if you offered?
  • Should compensation include an equity or phantom equity component?
  • Can the business entity be used as a utility to more effectively provide financial security tools compared to an executive providing for oneself personally?
  • Can the executive receive a tax deduction for medical expenses not covered by the employer’s medical plan?
  • Are long term care benefits available on a tax deductible basis?
  • Is the corporate sponsored long term disability program inadvertently discriminating against highly compensated executives?

Our customized strategies are designed to augment executives' retirement savings, reduce taxes and enhance financial security. We structure programs to each client’s unique needs and challenges. In fact, many times these benefits are expense neutral to the business and provide unique options that an executive cannot obtain outside a business entity. The Arkin Youngentob team can also work with members of your executive team to assure that a subject program integrates effectively into an individual’s personal situation. Ongoing, we look to provide that such plans remain competitive and compliant in the changing marketplace.

Programs

The following are some of the many types of retirement programs we offer:

  • Supplemental Executive Retirement Plans
  • Deferred Compensation
  • Split Dollar Plans
  • Performance-based Compensation Plans
  • Executive Bonus Plans
  • Salary Continuation Plans
  • Executive Life Insurance
  • Medical Reimbursement Plans
  • Supplemental Long Term Disability Plans
  • Executive Long Term Care Plans

Case Study

Issue: A business merger necessitated the subsequent plan design change to a 401(k) profit sharing plan. This plan had been an integral component to the business’ compensation structure and resulted in the inability of more than 80 highly compensated individuals from continuing to make substantial contributions to their retirement plan.

Solution: We recommended that a non-qualified Executive Retirement Plan be implemented with features that resembled the 401(k) profit sharing plan. The result was that the new plan maintained the integrity of the corporation’s compensation structure and at the same time provided each executive with the opportunity to increase retirement savings and enhance their long term planning flexibility.

The case study results are for illustrative purposes only. This example does not represent any specific product, nor does it reflect sales charges or other expenses that may be required. No representation is made as to the accurateness of the analysis.

Arkin Youngentob Associates, LLC does not offer legal or tax advice.

 

Executive Benefits & Retirement Planning