Designing a compensation package for a company is a multi-faceted process. In this Whitepaper, we discuss the key components of an overall compensation package, determine the result of not providing a robust package to employees, and explore the types of Nonqualified Deferred Compensation (NQDC) Plans that companies are using to reward, recruit, and retain top… Read more »
Family-Owned and Closely-Held Retreat Reflections
Recently, David Fritz and Pat Marget were panelists at the Wisconsin Bankers and Illinois Bankers Association’s Family-Owned and Closely-Held Bank Strategic Retreat held in Madison, Wisconsin. The discussions with the banks that identify as closely-held and/or family-owned focused on the challenges of transferring ownership to the next generation if proper estate planning and succession planning… Read more »
VIDEO: Choosing an Insurance Carrier for BOLI
Choosing an Insurance Carrier for BOLI EBN’s approach in recommending BOLI is to make sure our clients understand the carrier and product they are investing in. When selecting the best insurance carrier to underwrite the BOLI, it is important for the bank to look at highly rated insurance companies with the strongest credit ratings from each… Read more »
Video: What is BOLI?
EBN is answering some commonly asked questions on Bank Owned Life Insurance (BOLI), starting with the basic question of What is BOLI? BOLI is the purchase of a single premium permanent life insurance policy that is owned by the bank and generally issued on the lives on key bank employees and directors. Watch the short… Read more »
Compensation Committee Preparation
As we approach a new year, it is time to reflect and review the goals and accomplishments of the current year and the hopes and opportunities for the year to come. The pandemic, the labor shortage, a competitive workforce, and benefit incentives are just a few factors that are playing a large role in ensuring… Read more »
Celebrating 20 Years!
EBN is celebrating 20 years in business!! Thank you to our clients who trust us to provide service and plans that fit your needs, to our employees who go above and beyond to assist our clients, and to the different organizations that allow us to partner together to provide “Knowledge You Can Bank On.” We look forward to… Read more »
Factors in Choosing the Top-Hat Group
Determining Who is in the Select Group In today’s market there is a strong focus to recruit, retain and reward your key executives. To accomplish this, companies are implementing Top-Hat plans known as Nonqualified Deferred Compensation (NQDC) plans that are “unfunded” and maintained by the employer. Top-Hat plans are exempt from the Employee Retirement Income… Read more »
Feeling the Squeeze in Net Interest Rates?
Take a Look at BOLI 2020 has seen a significant drop in interest rates with several cuts by the Fed over the past several months. While these dramatic steps work to ward off an economic recession, it is also creating major issues on bank margins by shrinking yields on the short-end of the yield curve…. Read more »
Effects of COVID-19 on Nonqualified Plans
Nonqualified Plans and the American Pandemic, COVID-19 The new coronavirus, COVID-19, has created great social and economic uncertainties for companies, their employees and families. This article provides helpful information to assist nonqualified plan sponsors in answering the most common questions they may be receiving from their participants. In this brief newsletter we will have answers… Read more »
The SECURE Act: What You Should Know
Highlights of SECURE Act The President recently signed the “Setting Every Community Up for the Retirement Enhancement Act of 2019” also known as the SECURE Act of 2019. The SECURE Act is a retirement reform that is aiming to improve the nation’s retirement system, which has not been changed in nearly a decade. The following… Read more »