5160 Explorer Dr, Suite 11, Mississauga ON L4W 4T7

(289) 724-0013

Supplementary Executive Retirement Plans

Supplementary Executive Retirement Plan (SERP)

A non-registered retirement plan setup for key executives / employees, owners, professionals.  SERPs provide benefits in excess benefits that are capped in a registered pension plan due to legsilation, i.e. Income Tax Act (Canada). SERPs are setup to ensure that key employees to remove the impact of the legislative cap on retirement income and/or to maintain the key employees current standards of living in retirement.

These plans are setup for upper management (usually senior executives) to introduce equity and remove the limitation imposed by the Income Tax Act for high wage earners. These plans are usually unfunded but can be funded (RCA) or secured.
Services include but not limited to:

  • SERP setup and design
  • All required actuarial valuations (if & as required) – going-concern, solvency, accounting
  • Accounting Entries – All entries required to be reported on the corporate balance sheet; CICA3461 (Canadian), FAS87, 88, 106, 112, 132 (US), IFRS IAS19 (new standards)
  • Plan design, scenario analysis, actuarial costings
  • Preparation & filing of all regulatory documents
  • Investment review, if required
  • Preparation of the Statement of Investment Policy & Procedures (SIP&P), as required
  • Asset / Liability modeling
  • Member communications
  • Plan amendment
  • Conversion to Capital Accumulation Plans (GrRRSP, DC Pension Plan, etc)
  • Windup of SERP
  • Financial Education (plan members, pension committee)
  • Full pension Administration Services
  • Retirement Plan Governance (setup and management)
  • Ad-hoc actuarial and retirement consulting services