Executive Bonus Plan
Adding value for your entire C-suite.
Due to limitations from the Employee Retirement Income Act (ERISA), your highly compensated employees are restricted in the amount they can contribute to your 401(k) plan. You can help them retire on their terms—and strengthen your overall retention strategy—by providing a customizable Executive Bonus Plan. It’s a life insurance policy funded by bonuses paid by your credit union. You choose who can participate, how much they receive in bonuses, and when payouts can occur.
Benefits for You
- Insurance premiums are paid as bonuses by your credit union to the executives you choose
- Customizable payout options can align with your executives’ preferences
- Cash value grows over time, adding even more strength to your leadership continuity plan
Every situation is different. You can trust our non-commissioned specialists to help you tailor a plan that supports your leadership continuity goals. To request your no-cost consultation, call 800.798.0770, extension 665.8507.
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