About 70 percent of employers supplement their qualified plans with additional employer-funded, non-qualified retirement benefits for their senior executives, and these supplemental plans providing an annual contribution are marginally more common than those focusing on a specified retirement benefit, according to a new benefits survey by Integrated Healthcare Strategies.
The survey also finds that median medical plan premiums for family coverage grew by an average of 8 percent each year for the past three years, and most respondents offer executives 100 percent of their pay during a short-term disability period through one or more disability programs. For a long-term disability claim, the median salary replacement is 60 percent, which is provided by group and supplemental disability plans at the executive level.
The trend is moving away from perquisites, the survey shows, unless those items can be counted as business expenses. The most predominant perquisite is a car or car allowance, as 86 percent of CEOs receive either one.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
