A deferred-compensation plan is an employer-sponsored benefit for chosen employees in which participating employees defer a portion of their annual income into the plan before taxes and the employer promises to distribute that money, plus any earnings and additional employer contributions, at a future time. These plans can help employees save beyond 401(k) plan limitations to help meet their overall savings and retirement goals. Employees can also use a deferred-compensation plan as a tool to help manage the impact of taxes when the benefits are paid. This webinar will help advisors offer guidance to their clients that will maximize the benefits derived from deferred-compensation plans. Various plan designs will be explored, market trends will be identified, and the features of various funding vehicles will be discussed.
- Gain an in-depth understanding of nonqualified deferred-compensation plans, including the benefits and considerations of these plans
- Explore options for plan design
- Learn about current market trends
- Learn how these plans can be used to retain key employees
- Examine the pros and cons of various funding vehicles for these plans
John Baergen, CFP, CLU is Vice President – Executive Benefits Consulting of The Principal. John has an extensive background in case design, sales engineering, technical specifications, and consulting for nonqualified retirement solutions. With his background and ability to communicate effectively with both financial professionals and clients, John provides invaluable services in our nonqualified efforts. John joined The Principal in 2005. John received a Bachelor Degree in Marketing from the University of North Texas. He then went on to complete the Certificate Program in Financial Planning from the College for Financial Planning in Denver, Colorado. In 1997, John successfully earned the designation as Certified Financial Planner™ (CFP) and in 2006 earned the Certified Life Underwriter designation (CLU). He is a Registered Representative and an Investment Advisory Representative (IAR). John has attained a NASD series 6 (Variable Securities) and series 63 (Blue Sky laws) licenses.
FSP members: Click here to access this webinar for free (member log-in required).