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Member, Beacon International Group, Ltd.
New York-based insurance brokerage and risk management consulting firm Integro Ltd. is offering a supplemental executive retirement plan to its small and middle-market business clients.
Integro's new SERP program, which is a type of nonqualified deferred compensation plan, involves using life insurance for retirement planning that can be withdrawn tax-free in addition to providing death benefits.
“Life insurance is a critical element in protecting human capital and succession planning, and this capability enables us to also address clients' estate planning issues,” Marc Kunney, Integro USA president, said Tuesday in a statement.
Integro's new SERP program is an institutional product and will not have surrender charges typical of retail SERPs, said Paul Schimmel, an expert in wealth transfer and accumulation strategies who will consult in Integro's San Francisco office.
Integro specializes in serving organizations with complex risks, operating from offices in the United States, Canada, Bermuda and London.