Executive benefits plans are non-qualified plans that provide supplemental retirement benefits for a group of employees, typically executives. Unlike qualified plans, they come with zero coverage, eligibility, or participation requirements, so you can provide rewards and incentives with maximum flexibility. These executive benefits can help to provide motivation while employees are working towards retirement, improving overall business performance.
How Executive Benefits Can Give Companies An Edge
A well-tailored rewards package for key executives can help you recruit and retain top talent for your most important positions when it comes to company growth. A standard 401(k) leaves high-income earners needing additional savings routes to stay on top of their retirement goals. Offering a superior option, designed specifically for your top players, is something that will attract the best talent – and help them stick around.
If your business is in the market for the best talent, then you need to be able to support their needs. By offering a proper benefits package, these potential prospects will not only be attracted to the job initially, but in staying on board. These benefits can also act as a reward or incentive, pushing the executives to perform even better.
Where New City Can Help
New City Insurance will help you see the big picture when it comes to strategic discussions involving your executive compensation. New City’s specialized team helps you structure customized plans tailored for your business’ unique needs. We understand that not all companies are the same, so we offer the best executive benefits plan for you.
Depending on the needs of your business, these benefits plans can include different areas. New City Insurance offers executive benefits plans that include areas such as:
- Deferred Compensation Plans
- Selective Retirement Plans
- Asset Allocation
- Wealth Planning
Having a general plan for your executives can lead to lower business performance and employee retention. By having an unique benefits plan, employees are easier to retain and more motivated to perform.
Talk To New City About Executive Benefits
Attracting, and keeping, talented executives may seem difficult, but with a proper executive benefits plan it becomes vastly easier. Being the top positions in a company, executives are highly sought after and motivated to find the best opportunity for themselves. In order to attract the premier executive options, having an attractive executive benefits package can greatly aid a company. By having top level qualified executives leading a company, the business is bound to succeed.
Having fearless executives in a business can lead to great success. Attracting and maintaining them, is the only challenge. Thankfully, New City Insurance offers a solution to this challenge. Our executive benefits are designed to attract only the top, most premier prospects for executive positions. These benefits will also adapt and keep those executives around for the long haul. Ready to take your business to the next level? Reach out to New City today by calling 888.210.2759, or by requesting a consultation online. Keep your business strong and growing, invest in executive benefits.