If your company is seeking to attract and retain executives in a competitive environment, nonqualified benefit plans provide enhanced retirement savings and wealth accumulation alternatives for senior managers, officers, and directors. These plans can provide additional tax-deferred savings and benefits accumulation in excess of retirement and 401(k) regulations and are an important element of compensation programs for key employee groups. Wells Fargo has a dedicated, experienced team that specializes in serving the complex nonqualified plan needs of Fortune 500 companies. Our services include:
Consulting and plan design
We will evaluate your organization’s deferred compensation program needs—while also considering the tax implications and retirement funding needs of your employees—and work closely with you to tailor a plan to your current business objectives. Our process involves a proven implementation methodology, evaluation of multiple funding strategies, and a thorough administration analysis.
We are the largest bank provider of Rabbi trusts*, and have managed nearly 200 change-in-control and change-of-heart events. We have a deep understanding of regulatory rules and trustee responsibilities, and can help with ongoing trust administration, benefit payments, investment strategy, and benefit determination.
Choosing to safeguard plan benefits with a trust gives plan participants a greater measure of security. Wells Fargo Executive Benefits can help you design a Rabbi trust to provide benefits security for your executives.
Communications and enrollment
We can customize communications and enrollment materials for your specific plan and participants. Our printed materials packages—as well as our interactive website—make it easy for your employees to get the details they need to make informed decisions.
Plan management and administration
Our nonqualified plan specialists help you manage your plan, while you and your participants have access to sophisticated online administrative capabilities and flexible recordkeeping systems.
How you choose to fund your nonqualified benefit plan directly affects your company’s financial statements and net income. We can help you evaluate liability accumulation, tax implications, alternative costs, and participant concerns associated with each of these benefit funding alternatives:
- Company stock
- Mutual funds
- Corporate-owned life insurance
For more information, contact us at 1-800-887-1562.
Recordkeeping, trustee, and/or custody services are provided by Wells Fargo Institutional Retirement and Trust, a business unit of Wells Fargo Bank, N.A. This information and any information provided by employees and representatives of Wells Fargo Bank, N.A. is for educational purposes only and does not constitute investment, financial, tax, or legal advice. Please contact your investment, financial, tax, or legal advisor regarding your specific needs and situation.