Most corporations know that in order to attract and retain the best and most innovative talent, they have to offer generous benefits packages. But how do you make the benefits they offer work for you as an executive? Keeping reading for guidance from an Executive Financial Planner in Northern Virginia.
Corporations are limited by government restrictions on how much they can contribute to qualified plans. Executives should make the most of tax advantages to fully realize their net cash flow.
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Strategies that Benefit Executives
There are several ways to be strategic with benefits packages by keeping tax consequences in mind. For example, executives may defer a percentage of their income for greater retirement benefits. Similarly, an executive may build in an option to retire early.
Some companies prefer to defer board fees into a tax-deferral program. Senior level executives and directors may opt in or out of a so-called golden handcuffs situation, or a package designed to reward employees for goals or long duration of employment.
A number of savvy corporations attract successful executives by offering to replace retirement benefits lost when leaving their previous place of employment. This can be a particularly enticing draw for those looking to branch out.
Our experience allows our executive financial planners in Northern Virginia to advise on how to maximize the potential benefit packages with investments and strategies designed to work for you in the long run.
Goals can benefit both parties, when the funding is properly structured. Compensation packages can also be tailored to directly work with individual estate plans.
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Executive Financial Planner in Northern Virginia
Making corporate benefit packages work for senior level executives requires experience and creativity. The professionals at Argent Bridge Advisors are standing by to help you be strategic with the compensation you have earned.
To learn more about Argent Bridge, call to schedule a consultation at (833)568-4900.