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['Retirement Benefits']
['Supplemental Executive Retirement Plan', 'Retirement Benefits']
01/02/2024
Copyright 2026 J. J. Keller & Associate, Inc. For re-use options please contact copyright@jjkeller.com or call 800-558-5011.
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InstituteAssociate Benefits & CompensationSupplemental Executive Retirement PlanRetirement BenefitsRetirement BenefitsHuman ResourcesEnglishAnalysisFocus AreaCompliance and Exceptions (Level 2)USA
Supplemental Executive Retirement Plan (SERP)
['Retirement Benefits']
What is a SERP?
A supplemental executive retirement plan (SERP) is a deferred compensation agreement between the company and the key executive whereby if the executive meets certain pre-agreed eligibility and vesting conditions, the company agrees to provide supplemental retirement income to the executive and the executive’s family.
The plan is funded by the company out of cash flows, investment funds, or cash value life insurance. Any deferred benefits are not currently taxable to the key executive. When paid, the benefits become taxable to the executive as income and tax deductible to the company. A typical example of a plan would provide the executive a retirement benefit from all employer provided retirement benefit plans equal to 70 percent of the executives high three-year average compensation.
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retirement-benefits
retirement-benefits
FOUNDATIONAL LEARNING
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Retirement plans
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Bona fide profit-sharing plans or trusts and bona fide thrift savings plans
InstitutePension Benefits Guaranty Corporation (PBGC)Employee Retirement Income Security Act (ERISA)Retirement BenefitsUSADefined benefit planRetirement BenefitsHuman ResourcesEnglishEmployee Benefits Security Administration (EBSA)AnalysisFocus AreaCompliance and Exceptions (Level 2)Associate Benefits & Compensation
Employee Benefits Security Administration (EBSA)
InstitutePension Benefits Guaranty Corporation (PBGC)Employee Retirement Income Security Act (ERISA)Form 5500Retirement BenefitsUSARetirement BenefitsHuman ResourcesEnglishAnalysisFocus AreaCompliance and Exceptions (Level 2)Associate Benefits & Compensation
Employee Retirement Income Security Act (ERISA)
InstitutePension Benefits Guaranty Corporation (PBGC)Employee Retirement Income Security Act (ERISA)Retirement BenefitsSummary plan descriptions (SPDs)Focus AreaRetirement BenefitsHuman ResourcesEnglishEmployee Benefits Security Administration (EBSA)AnalysisIn Depth Sub Topics (Level 4)USAAssociate Benefits & Compensation
Summary plan descriptions
InstitutePension Benefits Guaranty Corporation (PBGC)Employee Retirement Income Security Act (ERISA)Retirement BenefitsUSADefined benefit planRetirement BenefitsHuman ResourcesEnglishAnalysisFocus AreaCompliance and Exceptions (Level 2)Associate Benefits & Compensation
Pension Benefits Guaranty Corporation (PBGC)
InstituteRetirement BenefitsDefined benefit planRetirement BenefitsHuman ResourcesEnglishAssociate Benefits & CompensationAutomatic enrollmentDefined contribution planPension Protection Act (PPA)IRA - TraditionalSaver's CreditAnalysisFocus AreaCompliance and Exceptions (Level 2)USA
Pension Protection Act (PPA)
Supplemental Executive Retirement Plan (SERP)
InstituteAssociate Benefits & CompensationSupplemental Executive Retirement PlanRetirement BenefitsRetirement BenefitsHuman ResourcesEnglishAnalysisFocus AreaCompliance and Exceptions (Level 2)USA
['Retirement Benefits']
What is a SERP?
A supplemental executive retirement plan (SERP) is a deferred compensation agreement between the company and the key executive whereby if the executive meets certain pre-agreed eligibility and vesting conditions, the company agrees to provide supplemental retirement income to the executive and the executive’s family.
The plan is funded by the company out of cash flows, investment funds, or cash value life insurance. Any deferred benefits are not currently taxable to the key executive. When paid, the benefits become taxable to the executive as income and tax deductible to the company. A typical example of a plan would provide the executive a retirement benefit from all employer provided retirement benefit plans equal to 70 percent of the executives high three-year average compensation.
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Copyright 2026 J. J. Keller & Associate, Inc. For re-use options please contact copyright@jjkeller.com or call 800-558-5011.