Building Retirement for Business Owners and Key Employees

In today's highly competitive business landscape, small business owners face numerous challenges. One of the biggest challenges is attracting and retaining top talent. With so many companies vying for skilled professionals, it can be difficult for them to stand out and attract the best employees. Additionally, they also have to think about their employees' retirement plans while simultaneously managing the day-to-day demands of running a successful business.

Presenter:

• Gail Brannock, JD, CPA, Technical Director of Nationwide Advanced Consulting Group

To address these challenges, Nationwide will be discussing the advantages and disadvantages of qualified and individual retirement plans from an employer's perspective and will delve into nonqualified plans and when they may be appropriate. By understanding these different retirement plan options, you can help small business owners make informed decisions that benefit both themselves and their employees.

Another topic that will be covered in the seminar is the loss of a key employee. Losing a valuable team member can have a significant impact on a small business, especially if they were instrumental in the company's success. To mitigate this risk, we will discuss the use of an executive bonus plan that helps recruit and reward key executives, ensuring that they feel valued and motivated to stay with the company. Additionally, the plan can also augment their retirement savings, providing them with financial security in the future.

Lastly, the seminar will touch upon how business owners can use individually owned life policies to meet their own retirement and liquidity goals. These policies offer a unique opportunity for small business owners to secure their financial future while also ensuring that they have access to funds when needed. By exploring the benefits and intricacies of individually owned life policies, business owners can make informed decisions that align with their retirement and liquidity objectives.