Executive Benefits
Given the current competitive business environment, an executive benefits program is essential in recruiting top-tier talent who will contribute to your company’s growth and profitability. A well-designed and implemented executive benefits program provides incentives that help attract new executives and retain talent over time.
We design, implement, and administer executive benefit plans that enable you to selectively reward key employees and top executives of your business. Our cost-efficient executive benefit plans supplement restrictive qualified retirement and group insurance plans. Our programs are designed to help meet the personal needs and goals of executives within the context of the overall corporate financial goals of your business.
Employee stock options and programs like 401(k) plans are a good start, but they may not meet the financial expectations of the most talented executives. Executive employees want to enjoy a rewarding retirement, with peace of mind, by establishing sound financial security early on. We are consistently chosen as trusted corporate advisors because we carefully evaluate costs and benefits, while continuously exploring additional possibilities for better programs to help executives achieve their financial goals.
Beyond The 401(K)
For many executives the annual investment limit in a 401(k) plan may be too restrictive. Deferring compensation can be a solution to limitations in traditional qualified plans, such as the 401(k). Nonqualified deferred compensation plans allow deferral of various forms of pay, including base, bonus, commissions, and special incentives, without the cap on the dollar amount saved or contributed. This opportunity may make it easier for executives to pay for other important expenses, such as tuition payments or the purchase of a home.
Including Performance Pay and Incentives in Disability Programs
In an era that has emphasized stock options and bonus compensation, executives may find their performance pay is not part of their current supplemental disability equation. Highly compensated employees usually fall short in plans designed to deliver a percentage of base pay “only” as disability benefits, even if income is tax-free. This is simply because of the disproportionate amount of total compensation arising from incentives, bonuses, stock options, and other forms of contingent compensation. Therefore, supplemental disability plans can be designed to give executives the opportunity to cover these other sources of compensation.
Supplemental Executive Retirement Plans
Supplemental Executive Retirement Plans (SERPs) help solve challenges with retention and motivation issues, helping retain and reward executives critical to the continuity of your company’s success. SERPs are a viable and popular alternative for top long-term executives concerned about the concentration of their post-retirement wealth in stock options. Although not without risks, a SERP may permit executives to self-direct the return on their account balances.
Disclosure
The Koptis Organization
30432 Euclid Avenue, #201
Wickliffe, OH 44092
Phone: 440.526.2525
Fax: .440.526.4328