[vc_row][vc_column][vc_column_text]How do you keep the key players in your company happy? Ark Financial’s Jeff Socha talks about executive benefits on Entrepreneur Podcast Network.

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Executive Benefits

This episode focuses on the timely topic of executive benefits, for which there are three general avenues:

SERP. A Selective Executive Retirement Plan targets key personnel and allows the company to mete out a percentage of an employee’s pay at the time of retirement over a number of years, like an annuity or pension. SERPS are partially funded by the company, like a 401(k)-matching benefit or a defined-benefit plan. The downside: Unlike 401(k) plans, SERPS are not portable.

Deferred Compensation Plan. These plans allow key employees to defer income, and therefore current taxes. Unlike SERPS, these plans are not company-funded; execs sock away their own pre-tax dollars.

A-la-Carte Plans. Non-qualified plans can also include benefits like life insurance, disability insurance and long-term care insurance, according to the needs of the executive and the business. We’re talking total customization here.

Please let us know if we can help you with your human resources or executive benefits needs!

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