Non-qualified plans are an excellent tool to help retain, attract and reward executives or highly compensated employees. These plans can provide participants additional tax-deferred benefits above the levels available in their 401(k) plan.
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According to the Department of Labor (DOL), as of March, 2018, approximately 85% of businesses with 100 or more employees offer an employment-based retirement plan. However, only 53% of businesses with fewer than 100 do so.
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Non-qualified deferred compensation plans are more popular now than ever among the nation’s leading companies due to their relative ease of implementation and high individual tax rates (federal and state).
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For many decades, banks of all sizes have used bank-owned life insurance (BOLI) as an effecient tool for offsetting employee benefit cost. Today, over $189 billion of BOLI resides on U.S. bank balance sheets.1
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Three questions with Bill Ryan, President and Chief Fiduciary Officer of Newport Trust Company.
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At Newport Group, we take the online security of our clients and their participant retirement accounts very seriously. Data security requires continuous adaptation, as the nature of online threats changes over time. Here are some of the recent protocols we have put in place to help prevent unauthorized access to participant data.
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A competitive executive compensation plan is becoming increasingly vital to attracting and retaining talented management, employers report in Newport Group's forthcoming 2017 non-qualified plan survey.
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Implications of the 2016 election relative to the taxation of life insurance, particularly the taxation of bank-owned life insurance (BOLI) and corporate owned life insurance (COLI).
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The Internal Revenue Service (IRS) recently reminded retirement plan sponsors to keep certain records in regards to hardship withdrawals and plan loans.
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