Executive Benefit
Objective
Executive Benefit Plan for Selected Key Management to supplement 401(k) and group disability plan with an array of long term benefits to help reward and promote performance and loyalty.
Benefit Considerations
- Disability Income Continuation
- Disability Savings Continuation
- Survivor (Death) Income Continuation
- College Funding (Pre-Retirement)
- Retirement Income (Post-Retirement)
Plan Specifications
Corporation Can | Qualified | Non-qualified |
---|---|---|
Hand Select Participants? | No | Yes |
Include Golden Incentives? | No | Yes |
Determine Benefit Limits? | No | Yes |
Time Plan Contributions? | Yes | Yes - after 2 yrs |
Deduct Contributions? | Yes | Yes |
Book Contributions as Assets? | No | Yes |
Eliminate Plan Administration Cost | No | Yes |
Eliminate Annual Federal Filing | No | Yes |
Executive Can | Qualified | Non-qualified |
---|---|---|
Make Added Deposits? | No | Yes |
Use Asset as Collateral? | No | Yes |
Avoid Current Tax on Corp. Contr? | Yes | Yes/No |
Have Tax-Free Pre-Retirement Access? | No | Yes |
Have Penalty Free Pre-Retirement Income? | No | Yes |
Use Plan for Wealth Accumulation? | No | Yes |
Use Plan to Protect Family? | No | Yes |
Retain Plan After Leaving Corp? | No | Yes |
Have Investment Options? | Yes | Yes |
Have Low Risk/High Yield | No | Yes |