Funding Alternatives For Non Qualified Deferred Compensation Plans

Author : Eric Boyce
Publisher :
ISBN 13 : 9781676447139
Total Pages : 34 pages
Book Rating : 4.4/5 (471 download)

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Download or read book How to written by Eric Boyce and published by . This book was released on 2019-12-16 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today's competitive world for employees, it is important to offer a benefits package that attracts the best and the brightest to your company. No place does this come into play more than when you are trying to recruit and retain Key Employees. The problem with Qualified Plans (i.e. 401k, Profit Sharing, SIMPLE, Cash Balance, etc.) is that contributions to these plans are often limited and inadequate for these employees (not to forget the owners) to replace their income in retirement.There is a solution for businesses that are looking to retain these key employees and try to help them supplement their retirements. The solution is what is called a Non-Qualified Plan. These types of plans are the Swiss Army Knife of Executive Compensation. This book gives you a quick basic education in Non-Qualified plans and includes the major types that are available for design in your business. In the book, the authors cover the use of: *SERPS - Supplemental Executive Bonus Programs* Non Qualified Deferred Compensation Plans (NQDP)* Section 162 Executive Bonus Plans* Leverage Premium Financing PlansThe book also covers taxation and strategies for the use of these plans in an executive compensation scenario. The book also addresses the use of these types of plans for Owner Exit Strategies and the taxation related to these transactions. Written for the business owner and business advisor to understand, the book explains the benefits and uses of these very effective tools. As we move into the third decade of the 21st Century, the old strategies of startup companies offering equity to new employees have lost their luster. Creatively designed Executive Compensation plans can provide a real tool for companies to Recruit Key Employees, Retain them, and help them supplement their Retirement. The Authors of the book Jeff Kikel, ChFC, CRPC, ASBC, NQPA and Eric Boyce CFA, NQPA are recognized experts in the creation, design, and implementation of these unique plans. As industry veterans, Jeff and Eric saw the challenge that their business owner clients faced trying to hold on to key talent, and especially when the owners themselves tried to retire. As business owners themselves, they have a passion for helping business owners succeed and built a Wealth Management and Consulting practice that serves these clients. Jeff Kikel and Eric Boyce are the Co-Founders of BKA Wealth Consulting, Inc and BKA Business Consulting, LLC. Eric and Jeff have over 25 years of experience in Wealth Management, Financial Planning, Business Consulting, and Corporate Retirement Plans. In 2019 Jeff and Eric were certified as Non-Qualified Plan Advisors (NQPA) by the National Association of Plan Advisors (NAPA). Jeff and Eric continue to share what they have learned about Non-Qualified Plans with Business Owners, Business Advisors, and the Investment Community. Jeff and Eric are available to speak on this subject to groups and organizations