Retirement Plan Scrutiny Heightened

Marshall, Jeffrey; Heffes, Ellen M.
November 2003
Financial Executive;Nov2003, Vol. 19 Issue 8, p10
Academic Journal
This article focuses on retirement plans offered by companies in the U.S. The author examines the strategy behind nonqualified retirement plans like Supplemental Executive Retirement Plans (SERP) for high ranking executives.The author also examines the prevalence of specific types of retirement plans such as defined benefit, defined contribution and 401(k) plans. The article also provides several comments from Tom Wamberg, chairman and chief executive officer of Clark Consulting, on how SERP plans typically work. These plans work like 401(k) plans; however, they allow executives to set aside more than the amount allowed under the rules governing 401(k)s which is around $11,000 annually. Wamberg adds that companies are providing greater disclosure over these plans due to increased scrutiny.


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