Executive Benefits

A well-crafted executive benefit plan will provide:

  • A tool to recruit, reward and retain key talent
  • Flexibility and freedom to select who will participate
  • Discretion to design and control plan features and benefits
  • Cost savings and less administrative requirements, compared to ERISA plans

For your employees, executive benefit plans can provide:

  • An opportunity to save for retirement on a tax-advantaged basis
  • A way to replace lost qualified plan benefits due to IRS limits and restrictions

WHAT TYPES OF EXECUTIVE BENEFIT PLANS ARE AVAILABLE?

Several plan choices are available to help you build a competitive benefits package for your executives. These choices vary in cost, features and complexity. Working with Axios Advisory Group ,Ltd., we can help you select the appropriate solutions for your company's specific needs. Below are a few examples of some of the plans we offer.

 

Non-qualified 409A Deferred Compensation Plan (DCP)
A DCP is a non-qualified benefit plan that enables executives to defer compensation on a pre-tax basis in excess of qualified plan limits. This plan has many of the features and benefits of a qualified 401(k) plan, but without the corresponding reporting, funding and non-discrimination testing requirements.
Non-qualified Supplemental Executive Retirement Plan (SERP)
A SERP is an agreement between an employer and one or more of its executives to provide corporate-sponsored supplemental retirement benefits. The plan can be structured as a defined benefit plan or a defined contribution plan.

Defined Benefit Structure – The company promises to pay an executive a specified amount of retirement income for a specified period of time.

Defined Contribution Structure- The company promises to contribute a specified amount for a specified period of time into a retirement account for an executive. At retirement, the accumulated contributions plus any earnings are paid out as retirement income over a specified period of time.
Executive Bonus Plan(EBP)
With an EBP, the company uses compensation bonuses to assist the executives in saving for their own personal financial and retirement goals.