In this video, Principal John Gagnon discusses the differences between defined benefit and defined contribution when it comes to SERP design and highlights the impact rate changes are having of these design options.
As interest rates increase, discount rates increase and these rate increases could have a major effect on what a SERP participant’s lump sum benefit will be. In this video, Principal John Gagnon addresses the impact rising interest rates are having on lump sum payouts and offers ways to adjust so that you’re not essentially encouraging an executive to retire early.
NQDC plans can solve for shortfalls in savings for highly compensated employees and provide retirement preparedness equity to those who have already maxed out their qualified plans limits. They do this by helping these individuals save beyond the limitations imposed by the IRS on qualified 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.