Non-Qualified plans are a retirement savings tools for individuals and corporations. Unlike Qualified plans, Non-qualified plans do not have to abide by ERISA rules. There are not limits on the contributions, and if designed correctly, the savings grow tax free and can be withdrawn tax free.

162 Bonus Plan
162 Bonus Plan
162 Bonus Plan
An executive bonus plan (Section 162) is a way for business owners or companies to provide additional supplemental benefits to key employees or executives of their choice. The benefits usually include life insurance policy death benefits as well as cash value accumulations that can be used as a tax-advantaged retirement income supplement. With an executive bonus plan, the business can use tax deductible company funds to selectively provide valued benefits to key people. An executive benefit plan, used effectively, can be a valuable tool to attract and retain key executives.
Non-Qualified SERP
Non-Qualified SERP
Non-Qualified SERP
Supplemental Executive Retirement Plan (SERP) is an agreement between an employer and one or more of its executives to provide corporate-sponsored supplemental retirement benefits. The Plan can be structured as defined benefit plan, defined contribution, and a deferral plan.
Defined Benefit Plan
Defined Benefit Plan
Defined Benefit Plan
The company promises to pay an executive a specified amount of retirement income for a specified period of time. These plans are often referred to as “golden handcuffs”.
Defined Contribution Plan
Defined Contribution Plan
Defined Contribution Plan
The company promises to contribute a specified amount for a specified period of time into a retirement account for an executive. At retirement, the accumulated contributions plus earnings are paid out as a retirement income over a specified period.
409a Deferral Plan
409a Deferral Plan
409a Deferral Plan
Just like in a 401k plan, a deferred compensation plan is an arrangement whereby an executive or owner defers some portion of their current income until a specified future date. Wages earned in one period are actually paid at a later date. The employer can also make contributions into the plan and apply a vesting schedule to increase the retention aspect of the plan.
Split Dollar Agreements
Split Dollar Agreements
Split Dollar Agreements
In a split-dollar plan, an employer and employee execute a written agreement that outlines how they will share the premium cost, cash value, and death benefit of a permanent life insurance policy

At the Cowart Group, we work hand in hand with business executives and owners in the following:

    • Advanced Case Design
    • Product and underwriting Management
    • Implementation
    • Administration
    • Annual reviews and analysis

Michael Cowart Sr is the regional consultant for National Benefits Group, a nation leader in the Non-Qualified and Corporate Planning space. For more information please click here.