Challenge

A credit union, one of our existing 401(k) and corporate cash management clients, was looking for ideas to offer additional benefits to key employees, and board members who are not compensated.

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Solution

We recommended they consider offering a group long-term care insurance plan paid for by the credit union. We implemented the plan and were able to additionally offer it to their spouses at a 35% discount. In addition, they wanted to recognize the CEO for the outstanding contribution and stewardship she had shown, and to retain her until retirement. We recommended and implemented a 457(f), nonqualified deferred compensation plan. Everyone was thrilled with the ideas and benefits.