Here is a good article from BankDirector.com written by David Shoemaker and Ken Derks from Equias Alliance, LLC. Shoemaker is a CPA and the President of Equias and Derks is a principal with Equias. The Equias team has assisted over 800 banks in the design of nonqualified benefit plans, performance-based compensation plans and bank owned life insurance.
The article, Performance-Driven Retirement Plans: Are They Right for Your Bank?, published January 05, 2015, focuses on using nonqualified deferred compensation (NQDC) plans to retain and recruit key high-performing lenders and executives. The article focuses on performance-driven plans, which when properly designed are generally well-received by bank shareholders.
Kelly Coughlin, CPA is the CEO of BankBosun and an independent consultant with Equias Alliance, LLC (“Equias”). Kelly provides a balanced consultative approach in the design, implementation and administration of bank owned life insurance (BOLI) and nonqualified deferred compensation (NQDC) plans that best serve clients’ objectives and needs.
Bank C-Suite officers are encouraged to contact Kelly Coughlin to discuss Bank Owned Life Insurance and Nonqualified benefit plans for their bank:
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