Determining the appropriate nonqualified plan design can be complicated, and partnering with a firm that has experience working with clients in the area of nonqualified plans is important. Our goal is to help our clients establish executive reward and retention strategies that satisfy corporate objectives, participant objectives, and legal and accounting regulations. Through the use of our proven process, we have successfully helped clients design, implement, communicate, manage and informally fund many nonqualified deferred compensation plans. Our thorough process includes:
Plan Evaluation and Design
- Listen and develop plan design to accomplish objectives
- Benchmark existing plan against industry trends/ best practices and objectives
- Identify areas for improvements
Financial Modeling
- Illustrate the projected financial statement impact of various plan designs
Participant Education
- Customize communications to unique plan characteristics
- Conduct educational sessions to communicate plan specifications
- Maximize appreciation of—and participation—in benefit programs
Plan Services
- Help facilitate the establishment of a record keeper/administrator
- Serve as an extension of the HR team to support the ongoing administration of the plan
Investment Monitoring and Support
- Assist in the selection of appropriate investment options
- Continuously monitor investment performance
- Recommend plan investment changes as necessary
Plan Financing
- Analyze and implement informal financing alternatives based on company goals:
- Cash flow
- Corporate Owned Life Insurance
- Mutual Funds
