Executive Benefits Compensation Strategies

The regulatory requirements set upon banks lead to unique challenges in recruiting and retaining key executives and employees. A well-thought-out and effective compensation and benefits strategy can mean the difference between growing or remaining stagnant in attracting, rewarding, and retaining the key individuals who drive the success of your bank. At SWBC, we understand the complex issues involved in providing a total rewards package that complies with regulations and delivers enough value to make your key employees stay.

To offset employee benefit expenses and enhance executive rewards, banks can choose to allocate assets to institutionally priced, high-cash-value life insurance (bank-owned life insurance or BOLI).

Split-Dollar Life Insurance

Split Dollar Plans are popular executive benefit package options. Recruit, retain, and reward by offering your executives employer-funded life insurance coverage.

Executive Group Life and Disability

Offer your top executives the ability to add on individualized life and disability plans that can help bridge the gap between your group plans. Benefits including Long-Term Care provide your top executives comfort that they’re covered if their daily functions are affected.

Key Person Life Insurance

Protect the stability of your business by taking out a policy on indispensable team members to help mitigate the cost of replacing them during a transition. These policies can also be used to offset the liability and costs of a Deferred Compensation Plan. 

Deferred Compensation Plans

Allow your executives to contribute to a non-qualified retirement account by deferring a portion of the salary, bonuses, or commissions for retirement or other purposes (e.g., vacation home) while experiencing potential tax benefits.

Supplemental Executive Retirement Plans (SERPs)

With our Supplemental Executive Retirement Plans (SERPs), you can provide your selected executives with supplemental retirement income. Attract and retain your key talent with SERPs from SWBC Executive Benefits. 

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