Executive benefit plans have the power to recruit, reward, and retain your leadership team. Now that you’ve decided to implement these plans, how do you find the best vendor to help you achieve your goals? Beyond client lists and references, find out what you really need to know.More...
Partner Contact: Richard Brock
Burns-Fazzi, Brock is a leading compensation consultant to credit unions. Since 1995, it has provided an increasingly wide range of retirement benefits and other compensation-related services to credit union executives, directors and employees. The organization aims to help credit unions recruit, reward and retain its talented executives. Burns-Fazzi, Brock’s broad expertise in the complex tax, accounting, legal, regulatory, funding and administrative issues that govern the use of benefits/compensation programs by financial institutions allows it to deliver a wide range of solutions to its clients.
Executive Non-qualified Benefits Plans Executive Compensation Consulting
Burns-Fazzi, Brock offers a complimentary educational meeting about executive benefit plans and a complimentary actuarial and legal review of existing non-qualified plans for due diligence.
Vendor Selection Checklist for Executive BenefitsOngoing Nonqualified Plan Due Diligence ChecklistInformal Funding Checklist
Together with NAFCU Services, Burns-Fazzi, Brock co-sponsors the NAFCU Executive Compensation & Benefits Survey of Federal Credit Unions yearly. Every participating federal credit union receives a copy of the summary report at no cost. The survey is conducted by independent research firm Clark & Chase Research, Inc.
The 2014 NAFCU Executive Compensation and Benefits Survey report is now available. If you participated in the study, please email Pamela Reid for your free copy of the report. All others, please email Janelle Lynch.
After almost eight years and several false alarms, the IRS may finally issue the new Section 457(f) regulations addressing nonqualified deferred compensation plans and severance plans. Two IRS attorneys speaking at separate events have expressed hope that the regulations will be released by this summer.
Executive benefit plans are a critical tool in recruiting, rewarding, and retaining your leadership team. A key concept in designing these plans is “fair and reasonable.” As expected, the NCUA has rules regarding fair and reasonable compensation. This webinar provides an overview of these rules and how to successfully navigate them to recruit and retain your leadership team. You will also learn the Board’s role in this process.
Dr. Jack Clark from Clark Research Associates presented the results of the 2014 NAFCU-BFB Executive Compensation and Benefits Survey last month at the NAFCU Annual Conference. There were many tidbits in the presentation, but one topic caught my eye - the wide variety of incentives that Boards have used to create bonus plans for top executives.
Results of the 2014 NAFCU-BFB Survey of Executive Compensation and Benefits (Recorded Webinar) The annual NAFCU-BFB Survey of Executive Compensation and Benefits helps credit unions make informed decisions about executive compensation. In this webinar, Jack Clark of Clark Research Associates LLC, will review the findings of the 2014 survey.
Thousand-pound pumpkins don’t grow by chance, nor do great executive
benefit plans accidentally happen. Both require work, care, and
commitment from everyone involved if you’re hoping for results that will
set records or exceed expectations.
In this edition, you will find "Credit Unions and the Struggling European Markets", an article by Rich Brock, President/CEO of Burns-Fazzi, Brock, more about the NAFCU-BFB Compensation Survey, a schedule of upcoming events, The Pumpkin King, and a BFB Foundation Update. Read more about these topics in this newsletter.
In order for credit unions to make informed decisions about executive compensation, a reliable survey is important. The NAFCU -BFB Survey was created to help credit unions understand the compensation and benefits of top federal credit union executives. In this recording, Jack Clark, from Clark & Chase Research, discusses what surveys are, some key factors you should consider when using a salary survey, and the relationship between credit union asset size and compensation. He also highlights the findings of the 2012 NAFCU-BFB Survey and how they found them.
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