Financial Security Specialists

Helping you protect those you love. Call 808-625-3782
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Golden Handcuffs 
Nobody likes the thought of being trapped in a job.  But a good employee is not easy to replace and unless the job pays competitively, provides personal feelings of accomplishment and has benefits that account for immediate and future needs - you could just lose that good employee to the competition.
 
The idea of "golden handcuffs" is simple.  Make staying with your company so attractive that given up employment with you would cost substantial benefits and allowances.  This is the idea behind the vesting schedule in retirement plans.  But regulations on those plans have made the vesting periods realtively short.  Many companies are putting golden benefits under non-qualified arragements:
 
  • Non-qualified retirement plans that remain assets of the company until actual retirement
  • Long Term Care insurance that becomes paid up at retirement.
  • Employee purchase arrangements that transfer ownership of the company
  • Critical Illness insurance plans paid by the company
  • High limit disability insurance coverage paid by the company
  • Travel insurance on all travel paid by the company
  • ...
 
If you have employees that you want to make sure are committedd to your business, call today for an analysis of what you can do to make a pair of golden handcuffs that are comfortable and effective.  Call 808-625-3782