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Category Archives: Deferred Compensation

Author By Matt Schiff Posted on Categories Deferred Compensation, Executive Benefits, Income Maximization, Retirement

How to Retire Happy – Regardless of your Age

We are thrilled to have Tom Hegna, past Senior Vice President of New York Life's Annuity division on to discuss how to Retire Happy, regardless of your age.  In the Third Episode, Tom gives you insights into what you should do, when you should do it, and what PRODUCTS, you should have to retire HAPPY.

P.S. If you want to learn more for your specific situation, click on the form to the right to have your "Perfect Plan" designed based upon your goals.

https://youtu.be/jQ7xGYpVHp0?si=yOWXs1To9Ba6N8yy

#RetireHappy #PerfectPlan #Income #IncomeAnnuity #Annuties #LifetimeIncome

Author By Matt Schiff Posted on Categories Deferred Compensation, Employee Retention, ESOP, Executive Benefits, Owner Benefits

Latest Trends in Executive Benefits – The SEB December 2023 Newsletter

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)


 

Author By Matt Schiff Posted on Categories Corporate Owned Life Insurance, Deferred Compensation, Employee Retention, Executive Benefits, Life Insurance, Retirement

Sample Phantom Stock Plan

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.



 


Author By Matt Schiff Posted on Categories Deferred Compensation, Employee Retention, Executive Benefits, Income Maximization, Uncategorized

The “perfect” plan



https://youtu.be/uK8Wx2pMoGc




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.


Author By Matt Schiff Posted on Categories Deferred Compensation, Employee Retention, Executive Benefits, Uncategorized

Retain your Key People with “Ownership” Like Benefits



https://youtu.be/obHoX4NWS0c




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






Deferred Compensation on Suits
Author By Matt Schiff Posted on Categories Deferred Compensation

Suits – The Interview


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.






https://www.youtube.com/watch?v=ImEnWAVRLU0
Watch for Stock Option Backdating at 5:55 into video

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