Overview

Modern Capital's niche consulting practice specializes in designing, implementing, and servicing what are often referred to as Supplemental Executive Retention/Retirement Plans (SERPs). Whether your Credit Union is looking to implement a new plan, or is in need of a complimentary audit of current programs, Modern Capital will customize their hands on educational & consultative processes to meet the needs of both the Executive(s) in question, as well as the Board. 

What are SERPs and Why are they Used 

An employer uses a Supplemental Executive Retention Plan (SERP) to retain and reward those who are driving the day-to-day objectives and long-term goals of the organization. Boards of directors adopt these types of plans as a tool to share the success of the organization with key executives over time, believing that the financial rewards paid to the executives are human capital investments in the success of the organization. In a SERP arrangement, the employer and employee enter into a legal agreement that state that the employer will pay the employee a certain amount of money either over a period of time or in a lump sum upon death, retirement, or termination.