We have entered a brave new world of retirement planning – and that very much includes planning in the credit union c-suite.
Maybe the biggest change: there today is no fixed retirement age. A generation ago, for most executives, 65 was the target. That was widely accepted in retirement planning.
Now we have executives who want to retire early. Others want to stay on past 65, perhaps to 70 or longer. Exactly how does this impact executive retirement income packages such as SERPs and 457Fs, the two most common c-suite retirement plans?
On the show to help us understand how retirement plans are flexing to accommodate a new generation’s needs is Kirk Kordeleski, onetime CEO of Bethpage Federal Credit Union and now an executive with OM, a firm that specializes in executive retirement planning.
It turns out there already is flexibility built into most plans – and more flexibility is on its way, says Kordeleski.
Along the way Kordeleski muses on credit union mergers and their impact on retirement plans.
Listen up.
This show is in a Money Talks series where credit union compensation is untangled. This show will help some executives negotiate better pay packages and will also help some board members understand the ways in which 2023 credit union compensation is utterly different from 1993 comp plans, even 2013 plans because now competition for talent is so much fiercer.
Hear episode one in Money Talks here. Episode 2 is here. Episode 3 is here. Episode 4 is here. Episode 5 is here. Episode 6 is here. Episode 7 is here. Episode 8 is here. Episode 9 is here. Episode 10 is here. 11 is here.
Want to know more about SERPs - or other matters raised in this podcast? Email Kordeleski Kkordeleski@om-financial.com
Have suggestions for topics to explore in this show? Email me, Robert McGarvey - rjmcgarvey@gmail
We have entered a brave new world of retirement planning – and that very much includes planning in the credit union c-suite.
Maybe the biggest change: there today is no fixed retirement age. A generation ago, for most executives, 65 was the target. That was widely accepted in retirement planning.
Now we have executives who want to retire early. Others want to stay on past 65, perhaps to 70 or longer. Exactly how does this impact executive retirement income packages such as SERPs and 457Fs, the two most common c-suite retirement plans?
On the show to help us understand how retirement plans are flexing to accommodate a new generation’s needs is Kirk Kordeleski, onetime CEO of Bethpage Federal Credit Union and now an executive with OM, a firm that specializes in executive retirement planning.
It turns out there already is flexibility built into most plans – and more flexibility is on its way, says Kordeleski.
Along the way Kordeleski muses on credit union mergers and their impact on retirement plans.
Listen up.
This show is in a Money Talks series where credit union compensation is untangled. This show will help some executives negotiate better pay packages and will also help some board members understand the ways in which 2023 credit union compensation is utterly different from 1993 comp plans, even 2013 plans because now competition for talent is so much fiercer.
Hear episode one in Money Talks here. Episode 2 is here. Episode 3 is here. Episode 4 is here. Episode 5 is here. Episode 6 is here. Episode 7 is here. Episode 8 is here. Episode 9 is here. Episode 10 is here. 11 is here.
Want to know more about SERPs - or other matters raised in this podcast? Email Kordeleski Kkordeleski@om-financial.com
Have suggestions for topics to explore in this show? Email me, Robert McGarvey - rjmcgarvey@gmail