2021 COLA Numbers

The 2021 Cost of Living Adjustments for various qualified retirement plans and other amounts have recently been released by the Internal Revenue Service. The numbers have been updated based on IRS Notice (2020-79). The change in the employee benefit plan limitations is due to an increase in the Cost of Living Index meeting the statutory thresholds…. 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 »

Salary Budget Predictions 2020

Reviewing Compensation Packages As the new year approaches, it is time for employers to consider salary increases for the 2020 year. The results produced by WorldatWork, an association of Total Rewards professionals, predict that salary increases will remain the same as 2019 or slightly increase by .1% from this year.  This slight increase is due… Read more »

Whitepaper: Short-Term & Long-Term Incentive Plans

Nonqualified benefit plans are implemented to recruit, retain and reward key employees.  Properly implemented plans motivate and reward employees to work towards common company goals while retaining employees with a long-term outlook.  These plans enable companies to provide appropriate retirement benefits with a more targeted and efficient use of benefit dollars.  There are a few… Read more »

The Importance of Employee Engagement

Tangible Benefits and Best Practices  David Fritz was featured in an article titled “Employee Engagement” in the Wisconsin Bankers Association’s July 2019 Magazine. David states, “The productivity of the organization improves and will be at a high level when you have people who believe in your company.” To read the entire article, visit the following… Read more »

David Fritz appointed to Board of AALU

David Fritz was recently appointed to the Board of Directors for The Association for Advanced Life Underwriting (AALU).  AALU advocates on behalf of all financial security professionals, servicing communities in every State, who help families and businesses secure their financial future and retirement goals.  In addition to joining the Board, David will be the Chairman… Read more »

Case Study: Group Term Carve-Out for a Community Bank

The Challenge The Bank was looking for another benefit to reward and retain its leadership team. The Solution EBN implemented a Group Term Carve-Out (GTCO) and Short-Term Incentive Plan (STIP). The GTCO was originally placed on 16 individuals.  The GTCO “carves-out” a group of key employees from the group term life insurance plan and replaces… Read more »