Executive Benefit Plans

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.

Solutions Include:

  • 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.

  • Loan Regime Split Dollar Life Insurance

    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.

  • CourseMark Platinum Security Plan

    This unique plan design offers the advantages of loan regime split dollar life insurance while providing the opportunity to accelerate cost recovery. Contact us to learn more.

  • Incentive & Bonus Plans

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

It All Starts With a Conversation

Together, we will discuss your needs and compare your options. Then, we will provide a no-strings-attached proposal based on your specifications.