Promus Financial | Executive Benefits

Non-Qualified Executive Benefit Programs

 

Qualified retirement plans (401(k), pension, profit sharing, etc.) offer employers a tax-efficient mechanism for helping their broad employee base save for retirement.  Unfortunately, income and benefit limitations on qualified plans make it difficult for higher-paid employees to ensure an adequate retirement income, creating a retirement gap.  Non-qualified plans can close this gap.  Non-qualified plans allow employers to tailor plans that help them recruit, reward and retain select key employees with tremendous flexibility:

 

  • No participation limits – Employers can hand select those employees most crucial to the company’s success
  • No contribution limits – No limits on income deferral or benefits payable
  • Flexible and customizable plan design, including contribution sources, benefit provisions and vesting requirements
  • Simplified government reporting and disclosure  
  • Flexible financing options

 

In addition to benefit design, key considerations include benefit financing, benefit security, effective communication and administration.