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Know-More Blog
Providing Financial wellness for employees
Business leaders work with fierce competition and constant change every day. To succeed, leaders must understand how to dance with these unpredictable forces, learn resilience, and harness the potential for growth amid volatility. You need your most important assets, your key employees, to stay focused on achieving the company’s goals. However, when dealing with those...
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NQCD helping to save for retirement
When you sign up for a nonqualified deferred compensation (NQDC) plan, you agree to set aside a portion of your annual income until some future date such as beginning retirement or funding your children’s college education. In our experience, plan participants do not spend enough time determining when and how to receive this money, let...
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Closely held and family-owned businesses, all private companies for that matter, often find it difficult to attract and retain key employees. Key talent can be easily lured away by publicly held companies that offer company stock (equity) as a key component of total compensation packages. While the equity in a private company cannot be traded on...
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The overall rate of companies offering nonqualified deferred compensation plans (NQDCs) increased to 85 percent in 2017 from a survey low of 77.2 percent in 2015, according to the annual Prudential/PLANSPONSOR Executives Benefits Survey. Average participation rates were relatively flat at 47 percent. So, how does this affect you? Plan sponsors believe the most important...
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Financial Planner
The Wall Street Journal produced a helpful guide entitled, How to Choose a Financial Planner in which the author offers this advice: “Consider the planner’s pay structure. A planner who earns money based on commission rather than a flat, hourly rate could have an incentive to steer you in a particular direction.” In general, the...
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Financial Wellness
As a corporate leader, you understand to attract and retain top talent, you must stretch far beyond the salary you pay to key employees. You must also offer competitive benefits like retirement plans, stock awards or tailored perks. While it is essential to help employees with their retirement planning, for many retirement isn’t their highest...
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Most, if not all, companies recognize the need to attract, retain and reward key employees with financial literacy. People are the lifeblood of business. To ensure access to top talent, these companies design sophisticated compensation and benefits programs for the executive suite and other highly compensated employees. 79 percent of employees cited a competitive benefits...
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Employer helping employees with financial wellness
According to PwC’s 2018 Employee Financial Wellness Study, which tracks the well-being of full-time employed U.S. adults, “close to half [46%] of all employees say they are stressed about their finances. And when asked what causes them the most stress in their lives, nearly twice as many say financial matters as compared to job stress;...
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Teaching employees their benefits
According to the 2017 Prudential/PlanSponsor Executive Benefits Survey, the overall rate of companies offering nonqualified deferred compensation plans (NQDCPs) increased to 85 percent in 2017 from a survey low of 77.2 percent in 2015. And why should you care? NQDCPs represent an extremely attractive tax-deferral vehicle to help highly compensated employees save for retirement or...
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Retirement Planning for Executives
Most companies today provide retirement planning with a 401(k) plan, with or without company matching contributions or profit sharing. While these plans work well for rank-and-file employees, they impose severe limitations on highly compensated employees. To fill the gap created, many organizations provide their highly compensated talent with nonqualified deferred compensation plans (NQDC), which gives...
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