Executive Benefits Plans
Executive plans can provide advanced benefits for your top executives.
Nonqualified Deferred Compensation Plans (NQDC Plans)
NQDC plans, often referred to as top hat plans, are designed to provide your executives with tax deferred monetary incentives. Equinox can structure plans that include the portion of company contributions that is directed towards your 401(k), but exceed the IRS limits. We can also set up a plan that allows your company to provide additional monetary incentives for executives, including sign-on bonuses, discretionary company contributions, or contributions in lieu of benefits that the executive left at their prior company. NQDC plans have become increasingly popular because they are one of the last forms of unrestricted tax deferral plans available.
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Financial Planning
Many executives have significant taxable events and financial planning requirements that cannot be addressed through most standard employee benefit programs. Offering advisement from a Certified Financial Planner (CFP) as a benefit, either at the company's cost or the executives' cost, is a great opportunity to provide your senior executives with tax efficient financial planning services.
Executive Disability Plans
Traditional short and long term disability plans have monthly income caps that often do not provide adequate coverage for your executives. If one of your company's top executives experiences an illness or injury that prevents him or her from working for a long period of time, his or her income replacement could be significantly lower than their usual income, resulting in potentially serious financial hardships. With an executive disability plan, your company can offer individual coverage to each executive, either company paid or employee paid, to provide additional benefits beyond the limits of most basic disability plans.