For For-Profit Companies
The structure of your business can have a great impact on the design of an effective retirement income solution. The Principal Financial Group® offers several different plans to help for-profit companies meet business and personal financial objectives.
- Executive Nonqualified "Excess" PlanSM (Deferred Compensation) - A nonqualified defined contribution plan that allows contributions in excess of qualified plan limits.
- Executive Nonqualified Defined Benefit Plan (Deferred Compensation) - A nonqualified defined benefit deferred compensation plan that allows employers to provide a supplemental retirement benefit in excess of qualified plan limits.
- Nonqualified Incentive Bonus Plan - A tax-deferred bonus program that gives employers a retention and reward tool that provides additional compensation to Top Hat and non-Top Hat employees.
- Principal SERP SelectSM - A simple, yet flexible defined contribution deferred compensation plan designed for growing businesses that want to offer one to five key employees a nonqualified supplemental retirement income benefit.
- Principal® Select Reward Plan - A program enabling employers to promise a lump-sum bonus payable upon fulfillment of a highly compensated executive's specified service requirement.
- Principal Executive Bonus PlusSM - A complete executive benefit solution for owners and key employees of growing businesses with an emphasis on bottom-line value and ease of use.
- Principal S Owner PlusSM - A program allowing owners of S corporations to move cash from the business to the owner, personally. Can also provide a death benefit and help maximize tax diversification.
- Principal LLC BonusSM - A plan allowing members (owners) of limited liability companies (LLCs) to accumulate wealth and/or create retirement income above what is allowed by their qualified plan. Can also provide a death benefit to help diversify personal income tax liabilities.
- Principal Split Dollar PlusSM - A program that purchases a cash value life insurance policy for an employee and pays for it with loans from the employer.