- Introduction
- Reverse Mortgage
- Sale and Leaseback of Your Home
- Nonqualified Deferred Compensation Plans
- Income Deferral Programs
- Other Investments for Retirement
- Comparing Taxable and Tax-Exempt Yields
- Capital Gains Tax Rates
- Tax Rate on Dividends
- Comparing Tax-Advantaged Investing to Other Investing
- Investing in Growth Stocks or Growth Mutual Funds
Some employers may provide additional retirement savings for employees by establishing a nonqualified deferred compensation plan, such as a SERP (supplemental executive retirement plan). These plans are typically established to provide deferred compensation to a select group of management or highly compensated individuals. You receive payment in the future for services rendered today and you don't generally pay tax until you receive your money. Such plans typically have no contribution limits, and your employer may generally use its discretion as to who will participate.
IMPORTANT NOTE: An unfunded deferred compensation plan allows you to defer taxation. But since the plan is not funded by the employer, you are just a general creditor of the company. The lack of guarantee that your deferred compensation will be paid is one of the biggest drawbacks of unfunded deferred compensation plans.
- ARE NOT A DEPOSIT
- ARE NOT FDIC-INSURED
- ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
- ARE NOT GUARANTEED BY THE BANK
- MAY GO DOWN IN VALUE
Important information about procedures for opening a new account
To help the government fight the funding of Terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means to you: When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Investment products are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Insurance products offered through Osaic Institutions, Inc.
