Challenge and Solution
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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POTENTIAL SOLUTION
We recommend they consider offering a group long-term care insurance plan paid for by the credit union. We would implement the plan and additionally offer it to their spouses at a 35% discount. In addition, they want to recognize the CEO for the outstanding contribution and stewardship she had shown, and to retain her until retirement. We would recommend and implement a 457(f), non-qualified deferred compensation plan.
These are hypothetical examples for illustration purposes only. Actual investor results will vary.
