Executive Compensation Survey to Peel Layers on 457(f) Plans

GLENDORA, Calif. – Executive Compensation Solutions is poised to launch what it describes as a comprehensive “executive-specific” 457 (f) plan survey. The executive benefits design firm, along with KG & Associates, a Wichita, Kan.-based developer and administrator of compensation programs for small and mid-sized organizations, will produce the survey for credit unions with $50 million or more in assets. More than 200 credit unions are expected to participate in the survey. The survey will touch on a number of executive benefits issues including providing a better understanding of current trends within the marketplace regarding executive compensation and executive attraction, retention, and reward tools, according to both firms. Queries from credit union board members and executives who were seeking information on what other institutions were doing for their 457(f) plans was the impetus behind the survey, said Alec Berkman, CEO of Executive Compensation Solutions. “We couldn’t find the appropriate information in this marketplace to answer their inquiries,” Berkman said. “That’s when we realized we had the resources to conduct this unique survey.” Berkman said the timing of the survey is important given the credit union industry’s “high level of growth in hiring executives” and their quest to attract and retain new hires. The survey is scheduled to be published in late November. For more details, log on to www.ecs-m.com or www.kgassociates.com. Credit unions that participated in the survey will receive the results at no cost, according to both firms.