Section 162 Bonus - The Best Executive Benefit You've Never Heard Of
Are you looking to attract and retain key talent? Nonqualified benefit programs are used to help provide ways for executives to shelter money from taxes, BUT they carry a lot of risks, are somewhat complicated, and can be expensive to administer. What if there was another way? What if there might be a better way? Let me introduce you to the 162 Bonus Program, a unique alternative that has a lot of upsides for the executive, eliminates the risk of forfeiture, but also gives the employer a clawback option.
Learning Outcome 1: What are 162 bonus programs and what makes then different from Nonqualified Deferred Compensation programs under IRC 409A?
Learning Outcome 2: How can an organization structure these to retain key talent?
Learning Outcome 3: What are the advantages of this approach over a more traditional executive benefit program?
Robert Massa
Robert Massa is the Managing Director of Retirement in Houston, TX for Qualified Plan Advisors (QPA). Rob is a retirement professional with more than 25 years of retirement industry experience. His primary responsibilities include practice management, strategic investment direction and advice, retirement plan design consulting and compliance, employee education and development, financial wellness strategies, client relationship management and SEC compliance. His career has been focused in the investment management and administration of qualified retirement plans in a diverse series of roles including investment advice, trust administration, recordkeeping, plan document drafting, compliance testing, product management, legal and client consultation.
