How the Bank Can Profit

You gain a competitive edge in recruiting, retaining and rewarding high-performing directors. You can also link director incentives to continued board service.

How Employees Can Benefit

Their responsibility and risk of liability are balanced by more retirement compensation. Their income taxes are deferred until they actually receive the benefits. And they also have the option to take advantage of tax-free death benefits.

Product

A benefit plan that offers additional income to board of directors members

Objective

Provide increased retirement compensation

How it Works

Directors can defer their retainer and meeting fees to avoid current taxation. They can also receive new retirement benefits for continued service to the bank.