Compensation Strategies to Recruit and Retain Key Employees | Presented by
November 18, 2021
10:00 am - 11:30 am CST
Bank Member: Complimentary
Associate Member: Complimentary
Do you find it challenging to recruit and retain key employees for your organization? Have you wondered what are other banks are doing and what options are available? In this webinar, we’ll discuss strategies beyond traditional compensation and bonuses/commissions that can be utilized to attract and retain your key employees.
Topics covered include:
- Different types of Qualified and Non-Qualified Plans, including 401(k) Plans, Cash Balance Defined Benefit Plans, Deferred Compensation Plans, SERPs and QSERPs;
- Strategies being incorporated by other banks and reasons why.
- How to determine if your key employee offering is competitive with peer banks;
We’ll discuss advantages and disadvantages for both the employee and the bank with each option, steps for implementation, and any ERISA/IRS requirements to be aware of.
Presenter: Kevin J. Wade, EA is Vice President, Consulting at BPAS Actuarial & Pension Services, LLC. Kevin's responsibilities include managing client service relationships, employee benefit consulting in the retirement and health care practice areas and coaching/mentoring actuarial staff. Kevin has over 30 years of experience in the employee benefit consulting field. His expertise includes design and financial analysis of retirement plans, including the requirements for cash funding and financial statements; early retirement incentive programs; Plan mergers and acquisitions; design and financial analysis of non-qualified supplemental executive retirement plans; plan curtailments, settlements and terminations; designing employee communications and conducting employee meetings. Kevin graduated summa cum laude from Utica College of Syracuse University with a Bachelor of Arts degree in Actuarial Science, and is an Enrolled Actuary, licensed to perform actuarial services under the Employee Retirement Income Security Act of 1974 (ERISA). He has also received the Membership of the American Academy of Actuaries.