For Tax-Exempt Organizations
While not-for-profit organizations have needs similar to those of for-profit companies, their business structures make them very different. The Principal Financial Group® offers several different plans designed specifically for helping not-for-profit organizations meet business and personal financial objectives.
- Principal Executive Bonus PlusSM - Tax Exempt - A complete executive benefit solution for key employees of not-for-profit organizations with an emphasis on bottom-line value and ease of use. Allows selected employees to make after-tax contributions and the organization to make matching or discretionary contributions.
- Principal® Select Reward Plan - Tax Exempt - A program enabling organizations to promise a lump-sum bonus payable upon fulfillment of a highly compensated executive's specified service requirement. No benefit is paid if the executive leaves early and vesting prior to the end of the service period is not allowed. Executive cannot alter time, or form of payment.
- The Executive 457(b) Retirement Plan (Deferred Compensation) - A nonqualified defined contribution plan that allows contributions in excess of qualified plan limitations up to annual limits.
- The Executive 457(f) Retirement Plan (Deferred Compensation) - A nonqualified defined contribution or defined benefit deferred compensation plan that allows the organization to make discretionary contributions in excess of qualified and 457(b) plan limitations.