Hospital/Medical

Build a Best-in-Class Team

Health Systems and Hospitals need to think about better
ways to attract and retain key staff, especially amid staff
shortages in the medical field.

Together, we will develop a customized program:

  • To meet the needs of both the hospital and the executive
  • To implement cost effective and successful plans to maintain a strong team
  • Help your organization attract the best and brightest talent in the industry

Solutions Include:

Your Organization Depends on Steady Leadership

More and more executives are approaching retirement age. For credit unions and nonprofits, finding ways to attract, reward and retain top leadership and key personnel is a high priority.

Offering a supplemental executive retirement plan (SERP) can be a valuable solution. As nonqualified plans, SERPs avoid many of the limitations and requirements of qualified plans such as 401(k)s.

Your organization can configure your plan to the needs of specific executives and highly compensated employees in your organization while ensuring the plan is aligned with your financial objectives.

  • Nonqualified Deferred Compensation Plans

    Create a more attractive benefits package by offering a 457(f) plan to provide retirement income
    and death and disability benefits to key employees. Your organization owns and controls the plan
    and carries the cash value as an asset on its balance sheet.

  • Collateral Assignment Split Dollar Plans

    Support long-term retention of top-level staff with a cash-value life insurance policy. The credit union pays the premiums on the policy, which are considered a loan to the insured. This arrangement can provide tax-free income to the executive in retirement while generating income for the credit union.

  • Executive Bonus Plans

    These flexible plans offer a variety of benefits to support both short-term recruitment goals and long-term retention of key people.

By participating in a Multiple Employer Aggregation Plan (MEAP) or a Pooled Employer Plan (PEP), employers can avoid much of the compliance concerns that come with offering their own plan. Each employer continues to select its own provisions, but many of the fiduciary and administrative tasks transition to the sponsor. The result is the plan delivers significantly more value and services at similar or less cost than they are already paying.

Hospitals can go beyond the typical qualified retirement plan for key executives with these solutions and CourseMark’s personalized guidance. Every situation is different, so we will analyze and plan based on the short and long term goals and provide the best possible solution for long term success.