Executive Benefits Team News
Updates and insights on nonqualified deferred compensation, institutional COLI, BOLI, and ICOLI, tax-efficient and cost-effective non-COLI funding strategies, low-cost tax-managed non-COLI asset/liability designs, IRS Code 409A, and other issues of executive pay and benefits.
Strategically designed executive benefits offerings can differentiate your organization from your competitors, helping you attract and retain the key talent you need for success. Executive benefits strategies enable organizations to reward employees selectively, may have little impact on Profit & Loss statements, and position executives to replace benefits lost to IRS limits on qualified plans and even receive payouts before they reach retirement age.
A nonqualified deferred compensation plan (NQDC) can be an executive’s most effective, tax-deferred wealth-accumulation strategy. When a company, as the plan sponsor, integrates executive benefit plans into Total Rewards, it cost-effectively aligns the objectives of its valued executives with the organization’s stakeholders. NQDC plans, Deferred Compensation Plans (DCPs), Supplemental Executive Retirement Plans (SERPs), and other targeted strategies position executives to save tax-deferred beyond the regulatory limits of qualified plans.
Customized and targeted benefit plans funded through intuitional COLI, BOLI, or ICOLI can be an effective strategy to help companies attract and retain top talent while potentially reducing aspects of corporate risk. Your organization may be able to manage the liability and expense of its benefit plan by utilizing tax-efficient corporate owned life insurance (COLI), bank owned life insurance (BOLI), or insurance company owned life insurance (ICOLI).
Benefits benchmarking, hard data comparisons, retirement income replacement ratios, and a strategy for retaining key executives. Does your organization recognize executive benefits as part of Total Rewards? Are you benchmarking compensation but overlooking the quantifiable value of executive benefits? Retirement plans may seem comparable on the surface, but a closer look reveals differences that can be substantial for executives and organizations.
What happens when the key decisionmaker at a privately held or family-owned business steps down, or for any number of reasons, is no longer at the helm? Business succession plans, buy/sell agreements, key person insurance, disability insurance, and executive life coverage are some of the effective tools that can help protect your assets and legacy.
OneDigital is a steward of business growth and people potential. Providing insurance, financial services, wealth advisory, retirement services, and an HR platform, OneDigital delivers personalized, tech-enabled solutions to support the contemporary work-life experience. Executive Benefits team members at OneDigital average more than 30 years of executive compensation and benefits consulting service and experience. Creatively and strategically, they deliver solutions to support client goals and objectives.
Your organization’s human capital is its most valued asset. The Executive Benefits Team shares timely information about select human resources recordkeeping processes, regulatory changes, and political dynamics that may impact your executive benefits plans and strategies. We’ll help you stay informed about compliance updates and tax changes related to nonqualified deferred compensation plans or other executive benefits solutions.
Collectively and individually, the Executive Benefits Team at OneDigital shares their time and talents through industry presentations and published papers, service to their community, and support of charitable initiatives, both locally and worldwide. They strive to serve their families, clients, profession, and global communities and they demonstrate leadership through service, seeking to unlock potential and purpose in others.