Nonqualified Plan Strategies
For the first time in history, there are more physicians employed by hospitals than by private practices. This cultural shift, combined with a growing physician shortage, has made recruitment and retention more challenging than ever.
A nonqualified deferred compensation plan can give your organization a competitive edge by improving your physician recruitment and retention. Furthermore, through proper design, education, and communication, it can help your physicians prepare to retire on time and how they want to.
A nonqualified deferred compensation plan is appealing to physicians because it may provide meaningful rewards that could better position them for retirement.
MaxWorth can assist you in the design and implementation of a deferred compensation plan so you can potentially harness the advantage of competitive benefits.
Many healthcare organizations have nonqualified deferred compensation plans that haven’t been reviewed or updated in quite some time. As a result, their plans no longer meet their needs.
It’s also common for organizations to have benefit plans in place that haven’t been effectively communicated to their physicians. Unfortunately, a plan that hasn’t been effectively communicated will not create a competitive advantage in recruitment and retention.
MaxWorth can help you update and communicate your existing benefit offerings so your physicians can appreciate your retention efforts.
Working With MaxWorth
Having years of experience in both the healthcare and financial services industries, MaxWorth is positioned to help you build a plan tailored to the needs of your organization and physician employees.
We work to understand your physicians’ needs with the goal of turning their benefits into a more meaningful resource. Through our partner network, you will have access to professionals in plan financing, investment selection, and employee benefit law. We will guide you through a turnkey process and make sure your participants understand the plan and the benefits of participation.
On an ongoing basis, we will continue to monitor the plan and communicate with your physicians, supporting them on their financial journeys and keeping them on track for retirement.
Want To Learn More? Let’s Talk.
Every healthcare organization is unique. Our solutions are customized to fit your needs. If you would like to find out more about us and our solutions, or simply discuss your organization's compensation challenge, complete the form below, and we will arrange a call with one of our consultants.
Securities and investment advisory services offered through Osaic Wealth, Inc. Member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.
This communication is strictly intended for individuals residing in the states of AL, AZ, AR, CA, DE, FL, GA, IN, KY, LA, MD, MI, NE, NV, NH, NY, NC, ND, OH, OK, PA, SC, TN, UT, VA, and WY. No offers may be made or accepted from any resident outside the specific state(s).
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