DB SERP means the Company's frozen defined benefit Supplemental Executive Retirement Program.

Middlesex Massachusetts Supplemental Executive Retirement Plan - SERP

Name: Middlesex Massachusetts Supplemental Executive Retirement Plan - SERP
Brand: US Legal Forms
Rating: 4.74 (276 reviews)

Category:

Corporations - Public - Disclosure and Notices

State:

Multi-State

County:

Middlesex

Control #:

US-CC-24-260

Format:

Instant download

Description

This sample form, a detailed Supplemental Executive Retirement Plan (SERP) document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.

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FAQ

A Supplemental Executive Retirement Plan (SERP) is a deferred compensation agreement between the company and the key executive whereby the company agrees to provide supplemental retirement income to the executive and his family if certain pre-agreed eligibility and vesting conditions are met by the executive.

You may roll over the payment to either an IRA (an individual retirement account or individual retirement annuity) or an employer plan (a tax- qualified section 401(a) plan, section 403(b) plan, or governmental section 457(b) plan) that will accept the rollover.

DB SERP means the Company's frozen defined benefit Supplemental Executive Retirement Program.

A SERP is a non-qualified retirement plan offered to executives as a long term incentive. Unlike in a 401(k) or other qualified plan, SERPs offer no immediate tax advantages to the company or the executive. When the benefits are paid, the company deducts them as a business expense.

A SERP is an employer-sponsored, non-qualified deferred compensation plan. It allows employers to select key, highly compensated employees with supplemental retirement benefits in addition to benefits from a qualified plan such as a pension, profit-sharing or 401(k) plan.

A supplemental executive retirement plan (SERP) can be a highly effective way to provide additional compensation for a handful of key employees and persuade them to remain with the company longer. A SERP has numerous advantages both for the business and its key employees.

A SERP retirement plan, or supplement executive retirement plan, is a non-qualified deferred compensation retirement plan offered by companies in addition to the company standard retirement plan to highly paid employees.

DC SERP means Defined Contribution Supplemental Executive Retirement Plan benefit of the Deferred Compensation Plan, and any successor or replacement plan thereof.

Middlesex Massachusetts Supplemental Executive Retirement Plan - SERP

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FAQ

What is the purpose of a SERP?

Can I rollover my SERP?

What is a DB SERP?

What is a SERP and how does it work?

What are the benefits of a SERP?

What is SERP plan?

Is SERP a defined benefit plan?

What is a SERP?

What is DC SERP?

Interesting Questions

What is the Middlesex Supplemental Executive Retirement Plan (SERP769163)?

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What are the benefits of participating in SERP769163?

How are contributions made to SERP769163?

Are the contributions to SERP769163 tax-deductible?

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