Deferred compensation provides a unique savings tool for key employees and has proven retention qualities. So why is this widely used strategy in corporate America being overlooked in the banking industry?
The more pervasive objection to BOLI is philosophical in nature and generally relates to the discomfort of receiving death benefit payments on the lives of current or former employees. This creates a misconception that the bank is profiting on the death of an executive.
An LTIP is an incentive bonus plan that makes payments based on the achievement of specific goals which are generally paid three to four years after they have been earned and after satisfying the vesting requirement. In this Q&A, Principal John Gagnon addresses common concerns to help determine if an LTIP is a proper benefit choice for your organization.
How will BOLI react in a rising interest rate environment? At the start of 2021, banks faced several challenging economic conditions including declining net interest margins, lower asset yields, and excess liquidity.
These tax tables are designed to offer a quick summary of tax brackets and taxes for: personal income, capital gains, children, and both employer and personal retirement plans.
For business and personal reasons, I travel quite a bit. And, I almost always travel on jetBlue as they service pretty much everywhere that I want to go. A few years back, I qualified for their “Mosaic” level which is their frequent flyer program. Over time, I’ve spoken to others that are also Mosaic level and universally it is highly regarded.