Advantages of a SERP. SERPs are a viable option for companies seeking to maximize their key executive’s retirement income. They are nonqualified and require no IRS approval and minimal reporting. The company controls the plan and is able to book an annual expense equal to the present value of the stream of future benefit payments.
http://www.investopedia.com/terms/s/serp.asp
Supplemental Executive Retirement Plans. A supplemental executive retirement plan (SERP) can be a highly effective way to provide additional compensation for a handful of key employees and persuade them to remain with the company longer. A SERP has numerous advantages both for the business and its key employees. Supplemental retirement income funded by a life insurance policy.
https://www.thehartford.com/business-playbook/in-depth/supplemental-executive-retirement-plans
How this plan works. A defined benefit SERP allows an employer to provide defined benefit payments to a key employee at a predetermined age of retirement and/or years of service. Instead of funding the employee account on an annual basis, the employer simply books the expense and liability for the benefit annually, to be recognized in the future.
https://nationwidefinancial.com/#!/products/business-life/resources/support/small-business-solutions/serp-defined-benefit
What is a 'Supplemental Executive Retirement Plan - SERP'. A supplemental executive retirement plan (SERP) is a nonqualified retirement plan for key company employees, such as executives, that provides benefits above and beyond those covered in other retirement plans such as IRA, 401(k) or nonqualified deferred compensation NQDC plans.
http://www.investopedia.com/terms/s/serp.asp
In this article we are going to focus only on the application of these new rules to retirement. plans, which from now on we're just going to call SERPs. (SERP stands for supplemental. executive retirement plan, and while, technically, there are a variety of nonqualified deferred. compensation plans besides SERPs that provide retirement benefits, a lot of people use the.
http://www.aon.com/attachments/409a_regs_serps.pdf
VOLUME X, ISSUE I JANUARY 2007. The Pangburn Company, Inc. is a. fee-for-service TPA (Third Party. Administrator) dealing exclusively with. nonqualified executive fringe benefit. plans. We administer plans for a diverse. clientele ranging from small closely held.
https://www.pangburngroup.com/content/newsletters/January2007.pdf
Your small business clients often need to recognize and reward valuable talent within their organization. One way to show key employees that they're appreciated is with a defined benefit supplemental executive retirement plan (SERP) funded with life insurance. A defined benefit SERP allows an employer to provide defined benefit payments to a key employee at a predetermined age of retirement and/or years of service.
https://nationwidefinancial.com/#!/products/business-life/resources/support/small-business-solutions/serp-defined-benefit
Tax Act places caps, or limits, on the level of pension that. can be paid or the amount of contributions that can be made. A supplemental executive retirement plan or supplemental. employee retirement plan (SERP) is a pension plan that provides. benefits in excess of the registered pension plan limits under. the Income Tax Act. Mercer maintains a database of the SERP practices of our. Canadian clients in order to analyze current market practices.
https://www.mercer.ca/content/dam/mercer/attachments/north-america/canada/serp-database-report-canada-eng-april-2015-mercer.pdf
On April 10, 2007, Treasury released final regulations under Internal Revenue Code (IRC) Section 409A, relating to the taxation of nonqualified deferred compensation. In this article. we focus on the application of these new rules to retirement plans.
http://www.aon.com/attachments/409a_regs_serps.pdf
Nonqualified Defined Benefit SERP Plans, and. other Post Retirement Defined Benefit Plans. The new rules apply to publicly traded. companies (effective for fiscal years ending on. or after 12/15/2006) and private companies. (effective for fiscal years ending on or after.
https://www.pangburngroup.com/content/newsletters/January2007.pdf
defined benefit serp
A defined benefit SERP allows an employer to provide defined benefit payments to a key employee at a predetermined age of retirement and or years of service.   A defined benefit SERP allows an employer to provide defined benefit payments to a key employee at a predetermined age of retirement and/or years of service.