Being in a leadership or ownership role in a business is not an easy task, a lot of time and work goes into the roles necessary to lead the company. You have to have the dedication and passion for what you are trying to accomplish with the business. As a leader, you have also sacrificed… Read more »
Business Succession Planning
The Purpose of Succession Planning As the Senior Leadership teams in the business industry approach retirement, creating and developing the company’s succession plan is critical. Along with creating a succession plan, it is important for key executives to plan for retirement. When retirement planning is ignored and not clearly communicated, even the most thorough succession… Read more »
Using Life Insurance to Supplement Retirement Income
Reasons for Life Insurance When it comes to putting aside funds for a Business Owner’s retirement, the options beyond qualified plans are limited. Owners of pass through entities are taxed on the profits of their business regardless of what they do with the Company’s money. To build a source of retirement income that grows tax-deferred and could… Read more »
Download our latest Webinar – Bank Succession Planning PT 1
As Senior Leadership teams in the banking industry approach retirement, developing the bank’s succession plan is critical. Equally as important is retirement planning, estate planning & key employee retention. In this webinar, EBN will discuss five key areas including succession planning that need to be addressed when looking at the future of the bank. Click… Read more »
Tax Reform Faces an Uphill Challenge
Many Americans are eager to enjoy the across the board tax rate cuts that President Trump promised so frequently during the election. There are numerous Republican law makers that have said their top priority is a large tax cut. House Speaker, Paul Ryan, and Ways and Means Committee Chairman, Kevin Brady, have prepared a detailed… Read more »
Retirement Security Concerns Rise Post-Election
I recently attended The American College of Financial Services Board meeting where there was much discussion on the need for retirement income planning in today’s society. As President Donald Trump begins executing his agenda, investors are expressing a degree of apprehension and have concerns about what might lies ahead and how potential policy changes could impact… Read more »
Short-Term Deferral Rule & Section 409A Regulation
Section 409A of the Internal Revenue Code is a set of rules that govern Nonqualified Deferred Compensation Plans. It includes rules that detail when the election to defer compensation must be made, but also how and when it is paid to the participant. Nonqualified plans are the bedrock of many companies’ executive compensation… Read more »
Succession Planning In A Family Business
Recently, I attended a speech related to business succession planning in family-owned businesses. The speakers included a panel of three majority shareholders of family-owned businesses, one of which was working on its fourth generation of ownership. There were several excellent ideas and insights shared that I would like to share with you below. Here are… Read more »
Pension Plan Funded Status
An article in CFO Magazine outlines the status of pension plans in Fortune 1000 companies. By the end of 2015, there was not a change in the pension plan funded status of the U.S. corporate plan sponsors. According to a new survey, it is hypothesized that most likely a rise in interest rates helped to offset weak global stock markets. The aggregate… Read more »
Compensation Preferences
Article from Lappley & Associates, Ltd. E-Newsletter The study outlined in this article, defines diversity in the workplace and gives insight into compensation incentives that will attract, retain, motivate and engage modern-day employees per their individual preferences. Professor Dow Scott, a Loyola University Chicago HR Professor, along with other worldwide university faculties led a study that… Read more »