Supplemental Executive Retirement Plans
Supplemental executive retirement plans (SERP) are an effective way to help executives reach target retirement goals, improve retention and reduce the costs of unfunded benefit liabilities.
SERP plans are designed to restore benefits lost due to regulatory restrictions on qualified retirement plans. With SERPs, executives don’t defer current salary or bonus because dollars used are provided entirely by the employer.
SERP plans can create an incentive for highly compensated executives to join the business; can help retain valuable executives; and can fulfill a particular income target at retirement.
We can help you select the plans that are the most appropriate options for your particular circumstances.