Executive Benefit Plans for Supplemental Retirement
There are many different types of executive benefit plans; each comes with a unique method or approach for rewarding an executive, depending on the organization’s goals and objectives. Executive benefit plans can be designed by an employer to exclusively benefit one executive or a select group of employees.
The most common types of executive benefit plans include:
– Nonqualified Deferred Compensation (NQDC) Plans
– Supplemental Executive Retirement Plans (SERPs)
_ 457b and 457F Plans for NonProfits.
– Executive Bonus Plans
– Stock Option Plans
– Split-Dollar Plans
There are many technical elements involved in designing, implementing and maintaining an executive benefit plan for key employees of a company. One important consideration to keep in mind is the entity of an organization, whether it be a C corporation, S corporation, Non Profit or limited liability corporation (LLC), among other types.
For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither First Allied Securities, Inc. nor any of its representatives may give legal or tax advice.