We ve Got You Covered Executive Benefit Resources

Transcription

1 We ve Got You Covered Executive Benefit Resources EXECUTIVE BENEFITS

2 You want top talent that adds value to your company, and that talent wants long-term financial stability. A forward-thinking executive benefits package is a win-win. An executive benefits package that provides adequate compensation can give your company a distinct advantage in attracting and retaining exceptional employees. Just imagine what it would mean to them and to the success of your company if you helped close the retirement gap confronting so many high earners today.

3 NFP: A Powerful Ally When you work with us, you work with all of NFP, a leading financial services distribution company serving high net worth individuals and companies throughout the U.S. and Canada. Over 1,800 NQDC plans in 49 states and 65 countries More than 80,000 participants under administration 66,000 policies under management $ 11.4B* in NQDC plan liabilities Top 3 distributor for five of its carrier partners in 2013 Top 10 Top Insurance Broker Globally Best s Review Top 10 Independent Broker/Dealer Investment Advisor, 2013 Top 5 Executive Benefits Provider PlanSponsor, 2014 Over 130 dedicated employees Over $ 12B** in assets under administration *PlanSponsor magazine, 2014 **As of Dec. 31, 2013 Strategic Solutions NFP Executive Benefits has a singular focus: to build a competitive executive benefits package for your key people. That focus takes shape through customizable plans, proprietary plan administration software and exceptional service. Decades of experience in balancing cost with competiveness are backed by the network of knowledge that is NFP, including some of the most advanced benefits, insurance and wealth management services teams in the nation. As a result, public and private firms, banks and other financial institutions, health care groups and nonprofits benefit from our strategic solutions, delivered through one-on-one support and a three-step process. 1. Advise Plan design consulting An open architecture design plan that helps you evaluate contribution sources, distribution options, funding considerations and investment choices Documentation Compliant documentation based on the specific benefit plan design chosen Implementation and enrollment A detailed implementation timeline, coordinated data exchanges, administration guidelines and customized enrollment materials 2. Implement Case design and modeling Benefit plan design analytics, including What if? modeling, and detailed cash flow and profit and loss forecasts, as well as financing analytics, including testing for premium sustainability, investment drag and carrier/product analysis Investment option analytics Analysis of financial hedge to offset plan liabilities, drafting of investment policy statement, due diligence reviews and guidance on funds and asset allocation models Product placement Product selection assistance based on an educational approach and client needs Conversion Seamless execution of your transition plan by a talented team of experienced professionals 3. Serve Record-keeping and administration Processing of plan contributions and plan reporting to participants and sponsors; asset support and corporate-owned life insurance (COLI) and bank-owned life insurance (BOLI) services; premium processing; and cash value reporting Web access Dedicated participant and sponsor sites, including solutions for international plans

4 What types of executive benefit plans are available? Executive Retirement Solutions Pretax Saving Solutions Deferred Compensation Plans and SERPs Government limits on the amount that employees and employers can contribute toward qualified retirement plans, such as an IRA, 401(k) or 403(b), leave many highly compensated executives without enough retirement income to sustain their current standard of living. Deferred compensation plans and supplemental executive retirement plans (SERPs) are designed to: Help make up for the shortfall Allow your domestically or internationally located key executives to save more income After-tax Saving Solutions Bonus Plans and Voluntary Savings Plans With an executive bonus plan, you can use compensation bonuses to assist your executives in saving for personal financial and retirement goals. Your company pays the premiums on a specially designed, employee-owned life insurance policy, treating the premium amount as a compensation bonus to the executive. Properly structured, the policy s tax-advantaged cash value accumulation and death benefit can help provide the executive with: Significant income Survivor benefits Disability Income Protection Solutions Corporate-sponsored Individual Disability Insurance Benefits Most group long-term disability benefits provide adequate disability income protection for the majority of workers but leave gaps in coverage for highly compensated employees. Bonus compensation and base salary above a certain maximum aren t covered, and disability benefits are subject to federal, state and local taxes. NFP Executive Benefits proprietary operating platform enables implementation of corporate-sponsored individual disability insurance benefits that can allow high earners to obtain appropriate levels of income replacement, with minimal impact on corporate HR, through: Increased coverage maximums Protected bonus compensation Tax-free benefits

5 What types of executive benefit solutions are available? Executive Compensation Consulting Compensation Consulting The most effective companies understand the correlation between company performance and executive compensation. NFP Executive Benefits consults with you to put into place the tailored pay strategies and structures you need to successfully attract, retain and motivate the top talent your company s future depends on. Institutional Funding Solutions BOLI The impact of informally funding an executive benefits plan with a tax-advantaged BOLI asset versus taxable assets can be significant. Through NFP Executive Benefits, financial institutions have access to a unique service model that supports the acquisition of BOLI and provides a complete understanding of the transaction and plan design. We help you decide whether BOLI is right for your company and, moving forward, assist with asset implantation and the monitoring and maintenance of those assets in line with the most current oversight, administration and regulatory compliance requirements. COLI The benefits promises you made to your employees can be challenged by organizational growth, time, opportunity costs and inflation, resulting in unanticipated financial consequences. NFP Executive Benefits not only works with employers to monitor future obligations of employee benefit plans, but we also develop funding strategies to meet them. Through our relationships with toprated COLI carriers, you get in-depth analysis of product choices, design, costs and the supporting due diligence needed for the successful implementation of a COLI program. After implementation, you re expertly guided with ongoing reporting and administrative services. Executive Life Insurance Split-dollar Life Insurance Death-benefit-only Plans Employer-provided programs designed to assist executives with wealth accumulation during their working careers are now an all-but-required component of a comprehensive benefits strategy. At the same time, the regulatory environment surrounding qualified retirement plans and nonqualified deferred compensation plans is making it increasingly difficult for you and your executives to maintain cost-effective saving strategies. NFP Executive Benefits can assist your company with the intelligent design and implementation of creative, tax-advantaged alternative savings programs.

6 What types of administration solutions are available? Administration Solutions BOLI Managing a BOLI program has never been easier. NFP Executive Benefits Client Plan Administration Delivery System (CPADS) provides a complete and secure website experience for financial institutions and their participating executives. The online delivery system offers bankers a platform for resolving today s key BOLI and benefit plan administration issues through timely and accurate delivery of information, 24/7. Reportable values provided directly from the insurance company, bank-reporting data and data needed to accommodate state and federal regulatory requirements are yours on demand. Global Benefits Administration Need global support? We accommodate global schemes requiring the valuation of funds from worldwide markets with underlying investments, trusts, nominees, custodians and currency exchange requirements that affect contributions, valuations, special distributions and other unique processes. You ll also receive special reporting on currency exposure, residency and other international concerns. Our benefits administration platform allows your company to work with any trust services provider or investment manager in the world to seamlessly manage the legal, jurisdictional and compliance issues of global benefits. Nonqualified Deferred Compensation Every nonqualified deferred compensation plan NFP Executive Benefits designs is unique. Through our open architecture plan design, you ll receive an administration solution that meets both participant and company needs. The plan is supported by financing options, an implementation timetable and plan administration services, including: Participant investment option processing Contribution earnings/losses allocation Maintenance of balance information Calculation and tracking of vesting schedules and distributions Creation of plan liability reports for asset rebalancing

7 Find out how to attract and retain top talent. The integrated expertise of NFP Executive Benefits means that you have to make only one call to find the best solution for your company. That call will instantly connect you to more than 130 dedicated staff members benefits consultants, attorneys, accountants, financial planners, insurance specialists, analysts, administrators and IT experts who aren t bound to any one product or service. The result? Unlimited options for a successful financial future.

8 About Us NFP s benefits, insurance and wealth management businesses provide a full range of advisory and brokerage services to companies and individuals, helping them preserve their assets and prosper over the long term. Our advisors partner with clients to help provide client-focused and comprehensive solutions, backed by NFP s national scale and resources. NFP is a leader in the delivery of benefits solutions for companies of all sizes and in the delivery of life insurance and wealth management solutions for high net worth individuals. Our leading independent broker/ dealer offers a full range of options from some of the nation s top investment companies. Let us help you succeed. Call us today. Todd J Broussard VP, Executive Benefits tbroussard@nfp.com This material was created by NFP (National Financial Partners Corp.), its subsidiaries or affiliates for distribution by their Registered Representatives, Investment Advisor Representatives and/or Agents. This material was created to provide accurate and reliable information on the subjects covered but should not be regarded as a complete analysis of these subjects. It is not intended to provide specific legal, tax or other professional advice. The services of an appropriate professional should be sought regarding your individual situation. Neither NFP nor its subsidiaries or affiliates offer tax or legal advice. Consulting and Administrative services offered through NFP Executive Benefits, LLC (NFP EB). Insurance services provided through Renaissance Benefit Advisors, Inc. (RBA). NFP EB and RBA are subsidiaries of National Financial Partners Corp. (NFP). Securities and Investment Advisory services may be offered through NFP Advisor Services, LLC (NFPAS), member FINRA/SIPC. NFPAS is affiliated with NFP, NFP EB and RBA. COR Copyright 2014 NFP. All rights reserved.