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a hybrid serp

a hybrid serpa hybrid serpa hybrid serp

Helping you retain your talented employees, while optimizing capital

a hybrid serp

a hybrid serpa hybrid serpa hybrid serp

Helping you retain your talented employees, while optimizing capital

BANKS

In order to compete for talent, banks use supplemental executive retirement plans (SERPs) to attract and retain select employees.  


Traditional bank SERP designs have their challenges: 

 

  • SERP is a liability/expense to the bank
  • Benefit is taxable to the participant
  • Participants benefit is subject to banks insolvency or regulatory takeover
  • Executives personal net worth and retirement is too heavily concentrated in the bank
  • Plan subject to 409(A) and 280(g)
  • Liability is often offset by BOLI, which by design is a MEC (Modified Endowment Contract), making it subject to taxes and penalties, limiting the banks ability to access cash value.
  • Cost recovery from BOLI death benefit



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CREDIT UNIONS

Loan regime split dollar does have its challenges:


  • Longevity of plan.  The loan isn’t repaid until death, which can be decades after a participant leaves the organization


  • Benefit distributions can be denied if organization deems the distribution to jeopardize policy performance.  (The policy is securing the loan via a collateral assignment of the policy to the organization)










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NON-PROFITS

Loan regime split dollar does have its challenges:


  • Longevity of plan.  The loan isn’t repaid until death, which can be decades after a participant leaves the organization


  • Benefit distributions can be denied if organization deems the distribution to jeopardize policy performance.  (The policy is securing the loan via a collateral assignment of the policy to the organization)










Find out more

Licensee offices

Boston/New England

Washington DC, Annapolis, Baltimore

Washington DC, Annapolis, Baltimore

Joe Malouf, Co-Founder

77 Access Road, Suite 4, 

Norwood, MA 02062

781-278-8851



Washington DC, Annapolis, Baltimore

Washington DC, Annapolis, Baltimore

Washington DC, Annapolis, Baltimore

 Mike Downey, Co-Founder

7675 Lake Shore Drive

Owings, MD 20736

443-771-5190 

Philadelphia

Washington DC, Annapolis, Baltimore

Philadelphia

Jim Calla

37 West Avenue, Suite 301

Wayne, PA 19087

267-212-4384

Atlanta

Washington DC, Annapolis, Baltimore

Philadelphia

Tommy Bridges

Managing Director

2827 Averett Dr

Columbus, GA 31906

Cell: 478-747-2037

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The Platinum Security Plan

77 Access Road, Ste 4, Norwood, MA, USA

443-771-5190 ▪ 781-278-8851

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