employee retention plans+
the power of
Meet the needs of key employees across generations.
The future is not all that matters to your key employees. As the modern workplace evolves, so have the needs and incentives of your team.
A Supplemental Employee Retention Plan (SERP+) is a flexible and custom approach to deferred compensation packages. SERP+ allows you to incentivize and retain your key employees across income levels, age, generational values and career roles with income to support pre-retirement life events like college tuition, student loan repayment and mortgage payoffs.
SERP+ gives you the opportunity to take care of your mission-critical top performers with creative and comprehensive plans that stand out above the competition.
…can be designed either as a Defined Benefit or Defined Contribution, to be paid either in full or in installments as determined by the plan sponsor. The Tuition Plan payments will be for each child named by the participant applicable once they reach college age. The funds can be used for higher education or other financial needs of the child.
LIFE EVENT PLAN
…can be structured into attractive compensation and incentive plans that account for near- and long-term life events and responsibilities. Plan considerations may include current and future income needs, tax treatment of deferred income and the organization’s retention and reward policy goals.
DEFERRED INCENTIVE PLAN
…is a low risk, high retention deferred compensation plan for key employees using non-qualified compensation options that are uniquely tax advantaged for both the individual and the organization. The plan can be designed to provide compensation that is payable upon the occurrence of a future event, or can be flexible through annual or regularly specified election cycles.
HOW IS SERP+ DIFFERENT FROM SERP?
SERP+ can provide an in-service benefit to help offset the cost of milestone life events with meaningful incentives prior to retirement. While Supplemental Executive Retirement Plans (SERP) focus on retirement plans for executive-level employees, Supplemental Employee Retention Plans (SERP+) provide additional deferred compensation that can be used or needed prior to retirement to meet the specific needs of individuals. Loyalty and performance are rewarded by targeting important moments in the lives of your active employees.
Traditional incentives are a thing of the past. Let us show you the power of designing compensation for the next generation.