Non Qualified Plans
The Monolith Group offers a variety of non-qualified plans for the business owner who is looking to incentivize and retain key employees, provide a tax free savings vehicle to their benefit package or for the employer who may not be able to benefit from traditional qualified programs, e.g. 401(k). The Monolith Group offers non-qualified plans which include: deferred compensation, split dollar plans and executive bonus plans. Each plan meets a different need for the customer but a common benefit associated with non-qualified plans is the ability to select which employees receive the benefit, rather than be forced to offer the benefit to all employees. Our firm is committed to working with each client on an individual basis to design and customize a specific plan to meet the needs of the individual or business. Circumstances in which employers may benefit from non-qualified plans include:
-The current 401(k) plan is too top heavy due to contributions of key executives and managers which could necessitate the company amending already prepared tax documents for the IRS;
-Inadequate participation from employees in the current retirement plan;
-A key employee or employees that an employer would like to provide incentive to remain with the organization;
-Employers would like a retirement plan that allows more flexibility with contributions when compared to a traditional qualified retirement plan;
-Reduce current corporate tax liability.
Please contact us today to schedule an appointment with one of our professional consultants to review your current non-qualified plan, or to see if your business can benefit from a non-qualified plan.
-The current 401(k) plan is too top heavy due to contributions of key executives and managers which could necessitate the company amending already prepared tax documents for the IRS;
-Inadequate participation from employees in the current retirement plan;
-A key employee or employees that an employer would like to provide incentive to remain with the organization;
-Employers would like a retirement plan that allows more flexibility with contributions when compared to a traditional qualified retirement plan;
-Reduce current corporate tax liability.
Please contact us today to schedule an appointment with one of our professional consultants to review your current non-qualified plan, or to see if your business can benefit from a non-qualified plan.
