The nonqualified benefits arena is complex and requires knowledge of the most recent tax and legal issues, alternatives and accounting implications of both benefits and funding. It is also crucial that a company matches the nonqualified plan design, funding and securing choices to the firm’s goals and priorities. Therefore, before beginning the nonqualified plan design process, a company should choose a partner based on experience, expertise, and administrative capability.
The firm should have the ability to extend the plan design process into a flexible, customized client service package. Service should include:
- Established procedures for handling plan transactions and changes
- Documentation of the plan’s initial design (including the reasons for design decisions)
- Continuous service and documentation of ongoing plan activity
- Frequent updates to plan participants on their benefits and the tax and legal developments that affect them
- Committed relationship with the client company’s management and the plan participants
Executive Benefits Network’s specialized team of advisors will work with each client to:
- Complete a thorough fact finding process with the client’s Human Resources, Finance and CEO team
- Create a customized plan design based on each client’s unique needs
- Educate the client on various potential informal financing vehicles (self-funding, equity funding and COLI funding)
- Communicate the program to plan participants
- Offer a full line of executive wealth planning opportunities including wealth accumulation, estate and insurance planning on a personal level
Executive Benefits Network’s client list proves its ability to personalize plans and adhere to a diverse set of needs and objectives. We pride ourselves in the relationships we’ve built and maintained over the years, and in the continuous service we provided to our clients. Executive Benefits Network will provide quality solutions coupled with world-class products and service to create solid executive benefit plans.