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Supplemental Retirement Plans
Supplemental Retirement Plans (SRPs): Strengthen Executive Retention and Retirement Security
Your key executives are critical to your company’s growth, yet traditional retirement plans like 401(k)s often don’t allow them to save enough—or create the loyalty you need. A Supplemental Retirement Plan (SRP) fills that gap.
At SSG Companies, we design SRPs for companies across Louisiana, Texas, Arkansas, and the Gulf South, helping businesses retain their top leaders and ensure executives have the retirement security they deserve.
What Is a SRP?
An SRP is an employer-provided benefit that delivers additional retirement income to select key employees.
These plans are flexible and can be structured in a variety of ways, including:
- Defined benefit structures – Promise a specific retirement benefit, such as a percentage of final salary
- Defined contribution structures – Provide annual company credits that accumulate and grow over time
- Performance-based plans – Tie benefits to achieving company or individual goals
Many companies also use SRPs as
Supplemental Executive Retirement Plans (SERPs)—a term often used interchangeably—when the plan is targeted specifically to top executives.
Why Companies Use SRPs (and SERPs)
Retain Key Leadership
Benefits are typically forfeited if the executive leaves before retirement, creating a strong retention incentive.
Close the Retirement Savings Gap
Allows highly compensated employees to build retirement security beyond qualified plan limits.
Flexible Design
Tailor eligibility, vesting schedules, and payout terms to your company’s needs.
Align Executive and Company Goals
Plans can reward tenure, performance, or successful company transitions.
How SERPs Work In Practice
A company may promise an executive a specific benefit at retirement (defined benefit) or allocate annual credits into a hypothetical account (defined contribution). These credits can be tied to performance goals and typically vest over time.
When the executive retires (or after a pre-determined number of years), the company pays the accrued benefit, usually as a lump sum or in installments. If the executive leaves early, they forfeit some or all of the benefit—making SRPs a highly effective retention tool.
Our Process
We design SRPs that balance executive expectations with company resources:
1
Evaluate current retirement benefits and leadership retention needs
2
Model various SRP or SERP plan designs
3
Coordinate with your legal and tax advisors to ensure compliance
4
Implement the plan and educate executives on its value
5
Monitor and adjust the plan as your business grows and evolves
When to Consider a SERP
- Your executives are maxing out qualified retirement plans
- You need stronger tools to retain key leadership through a business transition
- You want to reward performance or tenure with meaningful, long-term benefits
- You operate in a competitive industry and need to differentiate your benefits package
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Ready to Design an SRP for Your Company?
Your leadership team deserves a plan that supports their future while securing your company’s. Let’s create a Supplemental Retirement Plan that strengthens loyalty, rewards performance, and closes the retirement gap.