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Your executives may be a little anxious about retirement planning. They probably know they need to bridge the retirement gap due to government limits on employee and employer contributions to tax-favored qualified plans. These limits can leave your top executives in a serious lurch with a retirement of only 30 to 50 percent of their salary. That's simply not enough savings to sustain their current standard of living.
A supplemental executive retirement plan (SERP) gives you a great way to bump up their savings and let them know they're valued. With a SERP, your domestic and international executives save more income than they can with a qualified plan.
To avoid the restrictive requirements of a qualified ERISA plan, you might only informally fund a nonqualified plan or leave the obligation unfinanced. We can work with you to find best funding method based on your financial characteristics and the degree of risk that works for you and your executives.