Executive Incentive Planning is imperative to attracting, retaining, and motivating highly compensated, managerial and supervisory staff within your organization. Employees are more incentivized to maximize the value of the company as their goals become aligned with yours, the business owner.
Executive Incentive Plans, such as Phantom Stock Plans and Stock Appreciation Plans are an attractive option for key employees because unlike Qualified Plans, such as traditional pension plans or 401K plans, there is no requirement to be in compliance with the IRS and Department of Labor Rules. You can, therefore, draft programs customized to each executive, free of the coverage and discrimination requirements that apply to Qualified Plans. There are rules regarding who can qualify for the plan, as well as different tax treatment, compared to Qualified Plans. The professionals at Maguire Financial Group would be happy to meet with you to determine what plan is right for you.
The professionals of Maguire Financial Group will help you navigate through and clearly explain the benefits of various plans. In addition, we will work with your other advisors to develop and implement plans that are suited to your needs.