Supplemental executive retirement plans (SERPs) are playing an increasing role in executive compensation packages. Most SERPs represent an unfunded obligation of the employer. SERPs usually are “on top of” tax-qualified retirement plans, which are funded but are limited in amount.
Because most SERPs are unfunded, an executive’s SERP entitlement usually is subject to a risk that at some point in the future the employer may be unwilling or unable to pay. The column considers how to reduce, or eliminate, the risk of future non-payment of accrued SERP benefits, at least as of the date of retirement.
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