Are you a credit union that has executive benefit/SERP plans?  Let’s assume you have successfully implemented your plans – but you may be wondering – what’s next?  Where do we go from here?  What are the best practices in managing and monitoring managing my/our plans? 

SERP (Supplemental Executive Retirement Plan) plans have been crucial for the growth of credit unions. With the baby boomers rapidly exiting the employment market, the need to retain key talent is just as important as ever. If you read the publications like Credit Union Times, you are seeing the hiring of a new generation of leadership. What you might not think about is the butterfly effect from these hirings. A lot of times, a new CEO likes to bring in their own executive team with them. This creates gaps in a full executive team rather than just one individual. Even if they don’t bring their team with them, there will always be a deep dive into the performance of the existing executives. The conversation about SERPS starts with the CEOs, but truly successful CEOs want to surround themselves with talent to make the rest of their career much more productive...