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 »
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 »
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 Why for Business Life Insurance
How Life Insurance and Business Succession Go Hand in Hand Life insurance plays a significant part in an individual’s future and financial plan. Personal life insurance planning protects a family from the unknowns in life. Along with personal planning, insurance can be critical in business succession to ensure a business’ financial security and longevity. As… 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 »
Addressing A Flat Yield Curve
How to Invest with a Flat Curve Economists, financial professionals and business owners use the yield curve to predict economic outcomes and gauge the behavior of the market. The yield curve percentage is the rate at which debt interest rates change from shorter to longer maturities and is the spread between the Treasury 2-year and… 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 »