“Golden Handcuffs” – Advanced financial tools.
The Supplemental Executive Retirement Plan is the perfect tool to apply ”Golden Handcuffs” to your key employees…
If you are looking for a plan that motivates attracts and most importantly RETAINS your key eemployees you should consider an SERP…
With this plan the employer funds a special type of life insurance policy for an employee. Employee does not have access to the death benefit or cash value for a certain set period of time, during which if the employee was to pass away or leave the employer has insurance on his life to assist with procurement of another key employee or has access to the cash value. Another great benefit is that employer IS allowed to discriminate with this plan.
After the set period of time (the period of time which is the ‘golden handcuffs’) the employee can take an income stream off of the cash value providing a valuable tool with which to motivate. Additionally the employees beneficiaries will have the death benefit for their advantage as well so this program is a win win.
For any life insurance needs in Aspen Colorado call Drew Kitchell at 970-379-7777 or Email with Devlin Financial Services to discuss.
Supplemental Executive Retirement Plan | dkitchell February 18, 2010
1 Comment to ““Golden Handcuffs” – Advanced financial tools.”
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