Keyboard and Mouse

EXECUTIVE

BENEFITS

Retain and motivate your top talent by rewarding them with special incentives and compensation plans.

 

A company’s most valuable asset are their employees. Key-person insurance and/or buy-sell agreements should be put into place to help protect the company in case of an unexpected event or circumstance appears relating to an important employee.  

 

Executive benefit plans can also include special incentives and rewards unique to each executive which in return, helps minimize turn-over rates of top talent. 

 

Below are the different types of executive benefits options available

Key person insurance

Key person insurance provides protection to a company in case of a situation in which a key employee has passed away, became disabled, or has developed a life-altering condition. It provides a company time and money to find a new employee that has the capability to fill-in the key position so that the company can continue to run and protect what you have built. Key person insurance can come in the form of life insurance, disability insurance, and critical illness insurance. 

 

Buy-sell agreements

Buy and sell agreements were designed to help business partners manage difficult situations in ways that protect the business and their personal interests. These types of agreements are usually used by partnerships, sole proprietorship's, and closed corporations to make smoother transitions in the event that a partner decides to exit the business, retires, or dies. In a buy-sell agreement, the business share is to be sold to the company or to the remaining members of the business. 

Individual pension plans

 An Individual pension plan is an employer-sponsored pension plan that is designed to offer enhanced retirement benefits and tax advantages to key employees. Setting up an IPP provide many benefits including:  

  • allows for higher contributions than RRSPs

  • investments grow on a tax-deferred basis

  • plan sponsor contributions are tax deductible to your business 

  • employer contributions are not taxable for the employee

  • fees for set and administration of IPP are tax deductible                                         

Subscribe for our latest news & updates:
  • LinkedIn
  • Facebook
  • Twitter
Copyright @ 2020 by Pugachevsky Financial Group Inc. All Rights Reserved.