Reward and Retain Top Talent With Executive Bonus Plans
An Executive Bonus Plan, also known as a 162 Plan, is a powerful tool for attracting, rewarding, and retaining key employees. This strategy allows businesses to provide valuable life insurance or retirement benefits to executives while offering tax advantages for both the employer and the employee. At Mike Garcia Financial, we help you design and implement customized plans that align with your business goals and reward your top talent.
A Strategic Way to Invest in Your Team
Your employees are the backbone of your business, and retaining top talent is essential for long-term success. Executive Bonus Plans provide a win-win solution: employees receive meaningful benefits, and employers enjoy a simple, tax-deductible way to invest in their team. These plans are flexible, easy to implement, and can be tailored to meet the unique needs of your business and its key players.
Tailored Plan Design
We’ll work with you to understand your business goals and identify the best way to structure an Executive Bonus Plan for your key employees.
Clear Communication
We’ll explain the benefits of 162 Plans in simple terms, ensuring you and your employees understand how the plan works and its advantages.
Seamless Implementation
From selecting the right insurance or investment products to coordinating with tax professionals, we’ll handle the details to make the process smooth and efficient.
Ongoing Support
- As your business grows, we’ll help you adjust and optimize your plans to ensure they remain competitive and effective.
How It Works
1
Let’s discuss your business and identify how an Executive Bonus Plan can help you attract and retain key employees.
2
We’ll create a plan that aligns with your business goals and provides meaningful benefits to your team.
3
From plan setup to ongoing management, we’ll take care of the heavy lifting so you can focus on running your business.