Corporate Benefits

You compete in business every day with your products and services.  Your front line key employees have never been more important to your success.  Compensation plans for key executives is increasingly important.  Designing, implementing, and managing effective retirement programs for top executives, senior management and other highly compensated individuals is something we do well.

Qualified Plans are wonderful instruments in assisting most of your employees with their retirement goals.  There is however one large drawback.  Your most productive and valued employees are generally barred from saving enough in their qualified retirement plan to replace enough of their current income to insure a successful retirement.  We have the ability to design a custom retirement plan for your most productive employees.

Non-Qualified Plans can be designed for a select group of highly compensated employees that will allow them to save enough of their current income to reach their retirement income goals.

Mack Financial utilizes our combined national strength and planning tools to implement non-qualified plans for local mid-sized companies that are often left out of the non-qualified opportunities.  M Financial and our Member Firms currently work with almost half of the Fortune 500 and their executive benefit plans. At Mack Financial we have taken the best of the big corporate plans and are making these options available to your companies.

Our firm offers specialty services, products, and a proven disciplined process to help you design, implement, manage, and informally finance an Executive Reward and Retention Strategy.  Some of our services include:

  • Deferred Compensation (i.e., 401(k) Mirror/Excess)
    Properly designed and financed, a 401(k) Mirror Plan will provide a company’s senior executives and other highly compensated employees the opportunity to save for future financial goals and retirement on a pre-tax basis. 401(k) Mirror Plans have the advantages of a traditional 401(k) plan, but virtually none of the restrictions commonly contained within such plans. Additionally your executives enjoy increased flexibility as to when and how they receive their benefit distributions.We can help you give your company a competitive advantage. When you provide a 401(k) Mirror Plan it is easier to recruit, retain, and reward top executives. Experience has shown us that this can be one of the most cost-effective benefit strategies you can consider.

 

  • Supplemental Executive Retirement Plans (SERP)
    Providing supplemental retirement income is another method often used to provide additional retirement income. Often combined with a bonus schedule these types of benefits provide your best employees with a benefit that brings their retirement goals into focus and how through their continued performance and employment with your company they can provide for their retirement goals.SERPs are extremely beneficial to executives and employer for other reasons as well. For the executive, the benefits in addition to coming in the form of retirement income or capital appreciation, most SERPs are designed to include a survivor benefit in the event of the executive’s premature death.The benefits are usually carefully defined, based on predetermined targets, and are easily understood by the executive. Let us help design a Most Valued Employee benefit for your company.

 

  • Executive Life Insurance
    Trying to provide meaningful life insurance benefits outside of the group plan can be difficult because of the restriction within the group plan and what can be onerous tax results. We can provide your company with a custom designed Life Insurance benefit using our proprietary life insurance products.These cost-effective life insurance plans are specifically designed for the executive benefit marketplace. These plans are structured so that the premiums are paid for either directly by the employer or indirectly through a salary and/or bonus to the employee. An executive life insurance plan has many benefits for both the executive and employer. The executive is the owner of an ever-increasing asset, has access to cash values on a tax-favored basis, and has permanent life insurance coverage. The company benefits from improved economics (contributions are tax deductible) and gains a retention benefit at a minimal cost.A properly structured executive life insurance plan can replace existing group term life insurance coverage with an enhanced benefit that is more efficient for the company and more attractive to the executive.

 

  • Executive Disability “Carve Out” Plans
    Executive disability plans can provide the employee and the company with a benefit that meets the goals of both.  By implementing a formal documented plan you can provide security to your executive and create a structure to assist the executive with back to work provisions and a third part to determine eligibility.A properly structured supplemental long-term disability plan can significantly increase disability benefits above traditional group disability policies. The plan is usually structured to cover total compensation, including bonus and retirement plan contributions. Policies can be issued as individual contracts with guaranteed portability, high levels of guaranteed standard issue coverage and plan maximums, along with own-occupation protection or we can us our relationships to design such a plan on a group basis.