Finding and keeping the best employees is critical to success in business. Your business owner and executive clients likely know this already. But do they know you can help them attract and retain top talent? Here’s how:
Nonqualified plans are attractive savings alternatives for highly compensated employees. Essentially, they are an additional way to save for retirement without the restrictions of qualified plan contributions.
Deferred compensation, supplemental executive retirement plans (SERPs) and phantom stock plans operate similarly. Phantom stock plans are deferred compensation/SERPs where the crediting (growth) rate is tied to the company stock price, not insurance policy subaccounts and/or mutual funds.
A few reasons your clients should consider a nonqualified plan:
Methods of funding nonqualified plans:
Put it in Practice: Talk to your business owner or executive clients about the benefits and options available with nonqualified plans. Call the Ash Brokerage Advanced Markets team for more resources and assistance!
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