Recruiting and retaining great employees is one of the keys to success. These employees often become an irreplaceable part of the company, and keeping them can be crucial to a business' long-term goals and strategies.
With salaries being so competitive, supplemental plans that offer long-term financial incentives have become a key component in many compensation and benefit programs. Employees can receive various forms of executive compensation in return for their promise to remain with the company.
Supplemental Executive Compensation – A business agreement that provides defined contributions or future benefits when specific conditions are met
Deferred Compensation – This nonqualified plan provides compensation to key employees or executives through a life insurance policy with benefits and income taxes deferred until retirement
For more information, call us at (877) 643-4344 or visit any conveniently located First Hawaiian Bank branch and ask to speak to a Wealth Advisor.