Do you need professional advice or assistance business creation and/or business planning?

Nothing is more important to the continued success of a business than its ability to attract, retain, reward, and motivate key people. What is your company doing for the people responsible for the profits?

The following is a recommended 'Fringe Benefit Timetable' that may aid you in planning and implementing employee benefit programs in your business.

Phase 1 - Start-up/Survival

a. Group medical plan.
b. Basic group life insurance
c. Buy-sell agreement
d. Key management insurance
e. Stock options/phantom stock options
f. Flexible spending account

Phase 2 - Growth & Expansion

a. Group disability insurance
b. Bonus plan
c. Salary continuation plans
d. Increased group or individual life insurance
e. Profit sharing/401(k)/Simple, SEP retirement plans

Phase 3 - Maturity

a. Incentive plans/deferred compensation
b. Qualified pension plan
c. Selective supplemental pension plans
d. Split-dollar plans
e. Advanced estate planning for key people

Phase 4 - Transfer of Management & Control

a. Lifetime sale of business
b. Gifts of stock to family members
c. Recapitalization and reorganization
d. Employee stock ownership plan (ESOP)
e. Merger, acquisition or going public
f. Stockholder retirement