Are you an Attorney, Accountant, TPA, Trust Officer, Insurance Agent, Property and Casualty agent? If you work with Business Owners, and their families, then you want to be at this meeting where you will hear about how to COLLABERATE with other professionals who work with your client.
We will spend the day on Thursday, May 16th at the Fitler's Club in Philadelphia sharing a case study that is VERY relevant in today's world. How do you handle the intricacies of the family while bringing together all needed advisors to work seamlessly?
Well, we will have 20-25 attendees from different professions, coming together to discuss the challenges that they are facing with their clients in 2024. Come join us, and network with some of the best in their fields.
P.S. The night before, we have a Box at Citizens Bank Park for the game between the NY Mets and the Philadelphia Phillies (@6:40pm).
Sign up below to save your spot.
Check out the Latest Trends in Executive Benefits in the latest Schiff Executive Benefits (SEB) Newsletter. This month, learn:
- How to "monetize" your business while still controlling it (ESOP)
- How to retain key employees with a deductible benefit that has a risk of forfeiture
- Implement a Long Term Benefit on a Company wide Basis (with little to no underwriting)
In today's post COVID world, are you finding it hard to keep your best people happy, while making sure that you don't overpay the rank and file employees? Well maybe a Phantom Stock Plan, informally funded using key man life insurance, might be an answer.
Check out this sample program from one of our carriers, Guardian. It outlines these benefits in easy, simple to understand discussion pages, and then shows you the cash flow from the business, the benefits provided to the participant and his family in case of pre-retirement death, and the flexibility available to the company in funding this benefit, that, depending on the age and tenure of your employee, can provide a significant supplemental income at retirement that prevents them from leaving for a few extra thousand in compensation
Click on the following link for a copy of a Phantom Stock Sample. Then, if you'd like to a have a custom design done for you or your company, give us a call at 610.292.9330 or send us an email at info@SchiffBenefits.com.
Ever wanted the "perfect" plan where the company gets a current deduction when the money is paid into the plan, the cash grows tax deferred, and then the participant get the money "tax free"? Well look no further. There is a plan like that available. You just have to be willing to discriminate.
It's called a Restricted Executive Bonus plan and combines to different benefits in one. It has to be done carefully to meet IRS guidelines, but is 100% legal. Nice thing is, it's not carrier or product specific, and has the flexibility as to what type of asset you want in the plan.
To learn more, give us a call or check out our Executive Bonus material. We'd be happy to design a sample for you so that you keep your best people.
Have you had trouble and need to retain you key people? Did they want to feel like they had ownership but you don't want to give up a minority interest in your company? Well, you can design a benefit for your "key" employees, that makes your best people feel like they are an owner so that they never want to leave, and you never give up control until the day that you decide to.
For more, check out our Phantom Stock articles
Watch this video and learn about the NQDC (409A) - Deferred Compensation Plans and how you can implement one easily
What does the TV show Suits have to do with a deferred compensation and an insurance consulting firm? Well, Mike Ross, while running from the cops, runs into the interview room of Harvey Specter, a Harvard Lawyer who is interviewing new associates.
During their brief encounter, Mike is quizzed on a number of legal matters, one of which is 409A. Check out this clip at 5:55 where the topic comes up.
Great overview by Eric Altholz about 4960 and the excise tax for not for profit companies.
I had the honor of speaking at the annual meeting of the Million Dollar Round Table in June of 2017. Below, please find an audio copy of my presentation and what we do for our clients.....
https://soundcloud.com/mdrtpresents/creating-unique-benefits-for-business-owners-and-their-employees