Executive Benefits

ExecPlus is a strategy designed to reduce or eliminate this “Reverse Discrimination”. It takes the best of group coverage, integrates this with individual customized solutions and leverages a funding level equal to that of other employees. The result is an executive benefits plan that will position the company to successfully recruit, retain and reward key executives.

The strategy incorporates not only income replacement, but all potential concerns of each individual and offers flexible solutions to address ongoing individual and group needs.

Part of an executive benefits strategy is to “equalize” the executive benefits to a level on par with the average level of benefits provided to all employees. Often this means increasing the percentage of compensation dedicated to solving the problem to the same level as the average employee.

For higher income earners, salary increases become less effective as motivation, due to excessive taxation, particularly compared to our neighbours to the south who don’t hit the highest marginal tax rate until their income is about $300,000 per year. It is increasingly important to consider the competitive position of corporate compensation packages from a global perspective.

Corporations are using alternate methods to ensure that their key people are receiving the best possible compensation arrangements. Exec Plus programs are one method that allows management to enhance compensation both before and after retirement in the most tax effective manner. Furthermore, such programs have essentially unrestricted design flexibility.

Our experience has demonstrated a greater need than just top-up for disability and life insurance. In order to recruit, retain and reward key executives, it is now necessary to custom design an executive benefits program to the needs of each individual within the executive group, while equalizing the percentage of compensation used to fund benefits to a level equal to that of the average employee’s level of funding.