Experienced executives at successful companies are hot commodities, especially to competitors looking to replicate your success by hiring them away. As the competition to attract these professionals intensifies, a compensation package that includes supplemental executive benefit plans will help you retain, motivate and recruit the talented people who are the driving force behind your business.
Many standard employee benefit plans don’t give highly compensated executives the means to save for a retirement that suits their standard of living or provide life and disability insurance benefits that will allow their families to continue their current lifestyle. You can supplement your core benefits plan with salary continuation plans, deferred compensation plans and others geared to your key executives. Companies can even pick and choose who participates in them.
A good executive benefits plan doesn’t have to be complicated. SBC will assist companies design, communicate and administer a plan within the framework of your company’s financial and business strategies. We have relationships with some of the nation’s most creative design groups. Together, we strike a balance between meeting the needs of your executives and the cost per benefit trade-off to your bottom line. And the third-party administrators we work with offer tax, legal and accounting solutions to avoid penalties or unexpected taxation.