What We Do

Deferred Compensation Plans 457(f)

Deferred compensation plans are a promise by an organization to pay specific benefits (typically in a lump sum) to an executive in the future. This future obligation results in a benefit liability on the organization’s balance sheet and benefits expense recognition every year until benefits are vested. Once vested, these amounts (net of tax) are paid to the executive, placing them in control of the assets’ future performance and the resultant retirement cash flows.

Executive Bonus Plans (162)

Executive Bonus Plans result in compensation includable in the executive’s current income. The organization pays a bonus to the executive with the after-tax proceeds used to purchase a life insurance policy owned by and insuring the executive’s life. Once the funds are paid to the life insurance policy as a premium, they have growth potential and can be accessed without additional taxation. Most of the time, the life insurance policy is designed to efficiently accumulate cash value that the executive can access at retirement or another point in the future.

Split Dollar Plan

Split-Dollar is not a type of insurance but a method for two parties (often organizations and their employees) to purchase and share the benefits of one or more life insurance policies. The “loan regime” form of split-dollar, if appropriately designed, is non-compensatory and is used when the organization wants to provide retirement cash flow and death benefits. The organization pays the premiums on one or more life insurance policies. These premiums are treated as loans to the executive for tax purposes only and must be repaid with enough interest to avoid income inclusion. The organization is repaid the amount of the split-dollar funding (which may include interest) from the death benefits of the policy and the employee accesses the cash value during his or her retirement years.

Long-Term Care

Long-Term Care (LTC) involves services assisting a person with a disability or a serious, ongoing health condition with “Activities of Daily Living.” Insurance policies offering LTC benefits are an efficient planning tool for individuals to limit the financial and emotional stress of providing Long-Term Care that can be borne by loved ones later in life. Employers can include LTC as part of an attractive and comprehensive benefits package for key employees.

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Supplemental Disability

Long-Term Disability coverage is designed to protect income in the event an individual is no longer able to work due to an injury or illness. Group plans provided by most employers often fall short of what is needed for to protect the income of highly compensated employees. Individual Long-Term Disability Insurance is used as a supplement to group plans to fill benefit shortfalls that group plans cannot cover. Ensuring your disability coverage is sufficient means protecting your hard-earned retirement assets.

Business Protection

Your leadership is the cornerstone of your organization’s success…leave no stone unturned. We help our partners assess and protect the needs of their organization in the event of a key person’s death or disability, and incentivize and reward their key people in a competitive marketplace with retentive strategies and cost effective plan designs. Contact us to learn more, we are at your service.

Custom Solutions

We pride ourselves on our ability to tailor solutions to meet the needs of our partners, including offering consultation, third-party administration and plan analysis services for many scenarios in the insurance and executive benefits area. Contact us to learn more, we are at your service.

Alternative Funding

Triscend^NP works with its partner organizations to assess the suitability of various alternative funding strategies as a way to fund and/or offset the expenses and liabilities associated with employee benefits.