Executive Benefits Archives

By Matt Schiff April 25, 2024April 25, 2024 Corporate Owned Life Insurance, Deferred Compensation, Education, Employee Retention, Estate Planning, Executive Benefits, Owner Benefits, Retirement, Trust Owned Life Insurance

Collaberative Practice Meeting – May 15th/16th

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.

By Matt Schiff February 8, 2024February 9, 2024 Employee Retention, Executive Benefits, Life Insurance, Uncategorized

Register for The Independent Bank/Corporate (IBC) Owned Life Insurance Study Group

Event Timing: November 10th, 2024 (4:30pm Reception) - November 12th, 2024 (12:00pm end)
Event Address: The Hotel Monteleone, 214 Royal St, New Orleans, LA 70130

Hotel Reservations (Book Here by 10/1/24)

(Group Discount Until Oct 9, 2024 or Event is Full)

Registration Limited to first 50 Attendees (plus Carriers and Vendors).

By Matt Schiff January 10, 2024January 10, 2024 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)

By Matt Schiff February 15, 2022January 9, 2024 Employee Retention, Executive Benefits

Ready for the Great Talent Resignation?

Actionable Ideas to Recruit, Retain
and Reward Key Talent

In a time when more executives are walking away from their jobs, what can you do to keep them leaving during the Great Talent Recognition? Well, in this article by Andreas Stuermann, a fellow Lion Street Owner, he shares his ideas and insight into what might interest you and your staff that isn't for everyone, discretionary, and may be fully cost recvoered.

Key_Talent_Retention_During_the_Great_Resignation_SBG Download

By Matt Schiff October 29, 2020January 9, 2024 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.

By Matt Schiff January 15, 2020January 5, 2024 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.

By Matt Schiff December 18, 2019January 5, 2024 Executive Benefits, Life Insurance, Owner Benefits

Buy/Sell Insurance – How to do it for the least out of pocket

https://youtu.be/B0a_UsAAuhM

A short video about buy/sell insurance

What would happen if your business partner died suddenly? You'd be in business with his/her widow. Do you really want to do that?

No. Instead, you want to buy the "cheapest" insurance you can buy at the lowest cost. But many times, you need insurance for 20 or 30 years. In addition, when you pay that premium, it's gone.

What if you could have the same cash flow for a permanent policy as a term insurance policy, have the bank pay your premium, and then in the future, create a stream of income that potential buyout you or your partner in retirement? Wouldn't that be the best of all words? Well you can. You just have to be able to qualify.

By Matt Schiff December 16, 2019January 5, 2024 Employee Retention, Executive Benefits, Uncategorized

Why you should have Long Term Care Insurance

https://youtu.be/2PfvHO-cnl4

Long Term Care Insurance - It's about the Coordinated Care Provider

Everyone should have long term care insurance. For individuals over 45, this is the one benefit that you have a 70% chance of using during your lifetime. And the most important benefit is the Coordinated Care Provider that comes with it.

By Matt Schiff December 16, 2019January 5, 2024 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

By Matt Schiff November 11, 2019January 5, 2024 457(f), Corporate Owned Life Insurance, Deferred Compensation, Employee Retention, Executive Benefits, Uncategorized

NQDC (409A) – Deferred Compensation – A Short Overview – You Tube

Watch this video and learn about the NQDC (409A) - Deferred Compensation Plans and how you can implement one easily

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Category Archives: Executive Benefits