Comprehensive Employee & Executive Benefits

Supporting Your Workforce and Leadership

For businesses, attracting and retaining top talent, fostering a productive work environment, and ensuring the financial well-being of both employees and leadership are paramount. At Westside Retirement & Financial Services, we specialize in designing and implementing tailored “Employee Benefits” and “Executive Benefits” programs that achieve these critical objectives. We understand that a well-structured benefits package is not just an expense; it’s a strategic investment in your human capital, distinguishing your company in a competitive market. Our expertise helps businesses of all sizes navigate the complexities of benefits offerings, providing solutions that support your workforce, protect your key personnel, and enhance your overall organizational strength and appeal.

Strategic Employee Benefits: Empowering Your Workforce
“Employee Benefits” are a cornerstone of a successful business, contributing significantly to employee satisfaction, retention, and overall morale. A robust benefits package signals to employees that they are valued, fostering loyalty and productivity. We offer a wide range of employee benefit solutions, customizing packages to fit your company’s size, industry, budget, and specific workforce needs.

• Group Medical Bridge Insurance: Provides financial support to employees by covering out-of-pocket expenses (like deductibles and copays) that traditional health insurance leaves behind, enhancing their overall health coverage.
• Group Dental Insurance: A highly valued benefit that helps employees cover the costs of routine and advanced dental care, promoting oral health and overall well-being.
• Voluntary Benefits: These are benefits employees can choose to purchase, often at group rates, giving them more control over their coverage. This includes offerings from providers like “Aflac” and “Colonial Life,” which specialize in supplemental benefits.
• Supplemental Insurance: This broad category covers various plans designed to fill gaps in primary insurance. We integrate several specific types of supplemental insurance:
  • Accident Insurance: Provides cash benefits directly to employees for injuries resulting from accidents, helping cover medical bills or lost wages.
  • Cancer Insurance: Offers financial support specifically for a cancer diagnosis and treatment, covering out-of-pocket costs and providing crucial financial flexibility.
  • Hospital Indemnity Insurance: Pays direct cash benefits to employees for each day spent in the hospital, helping cover deductibles, copays, or everyday expenses during a stay.
  • Critical Illness Insurance: Provides a lump-sum cash payment upon diagnosis of a covered serious illness (e.g., heart attack, stroke, life-threatening cancer), offering financial relief during a health crisis.
  • Gunshot Wound Insurance: A specific type of supplemental accident insurance designed to cover costs associated with injuries from gunshot wounds.
• Disability Insurance: Crucial for protecting employee income. We provide options for both short-term and long-term disability, ensuring employees receive a portion of their income if they become unable to work due to illness or injury.
• Life Insurance (Group): We can help structure group life insurance policies that provide a death benefit to employees’ beneficiaries, offering fundamental financial protection for their families.

Executive Benefits: Attracting and Retaining Top Leadership
“Executive Benefits” are specialized compensation and benefit plans designed to attract, retain, and reward key executives and high-value employees. These benefits go beyond standard employee offerings, providing unique advantages that incentivize top talent and align their financial success with the company’s long-term goals.

• Key Man Insurance: A critical business protection tool, “Key Man Insurance” is a life insurance policy purchased by the company on a vital employee or executive whose death would cause significant financial hardship to the business. The death benefit is paid to the company, providing funds to cover operational expenses, find a replacement, or manage financial losses, ensuring business continuity.
• Executive Life Insurance (Non-Qualified Plans): Beyond standard group life, we design tailored life insurance plans specifically for executives. This might include larger death benefits, cash value accumulation features (like “IUL” or “Index Universal Life”), or benefits that can be accessed for supplemental retirement income.
• Executive Disability Insurance: Providing higher levels of disability income replacement than standard group plans, crucial for protecting the significant income of top executives.
• Non-Qualified Deferred Compensation: Strategies that allow executives to defer a portion of their income to a later date (e.g., retirement), often with tax advantages.
• Bonus Plans & Phantom Stock: Designing incentive programs that tie executive rewards to company performance without diluting ownership.
• Buy-Sell Agreement Funding: For businesses with multiple owners, we help structure insurance solutions to fund “Buy Sell Agreements.” This ensures a smooth and orderly transfer of business ownership upon the death, disability, or retirement of a partner, providing necessary liquidity and stability for the remaining owners and the departing partner’s family.

Human Resource Support & Voluntary Benefits Integration
Managing a comprehensive benefits program requires strong “Human Resource Support.” While we are not an HR department, we offer valuable assistance and insights to simplify benefits administration for your team.

• Voluntary Benefits Integration: We specialize in integrating providers like “Aflac” and “Colonial Life” to offer a robust suite of “Voluntary Benefits.” These are plans employees can choose to pay for themselves (or with partial employer contribution), giving them personalized options for Accident, Cancer, Hospital Indemnity, or Critical Illness insurance. This expands an employer’s offerings without significant additional cost.
• Enrollment & Communication: We assist in communicating benefits options to your employees, helping them understand the value and choices available.
• Benefits Review & Optimization: We regularly review your benefits package to ensure it remains competitive, cost-effective, and compliant with evolving regulations, keeping your programs optimized.
• Paychex Integration (as a strategic partner): We can work with HR and payroll providers like “Paycheks” to ensure seamless integration of benefit deductions and administration, simplifying the operational aspects for your business.

Why Choose Westside Retirement & Financial Services for Your Benefits Needs?
Investing in your people and leadership is investing in your company’s future. With Gregory Doomanis, you gain:

• Strategic Benefits Planning: We design programs that align with your business goals, budget, and talent acquisition strategies.
• Comprehensive Offerings: A wide array of “Employee Benefits” and specialized “Executive Benefits” to meet diverse needs.
• Expert Guidance: We simplify complex benefits choices, helping you understand each plan’s value and implications.
• Enhanced Retention & Productivity: Robust benefits boost employee morale, loyalty, and overall company performance.
• Business Protection: Solutions like Key Man Insurance and Buy Sell Agreement funding safeguard your company’s continuity and ownership.
• Ongoing Support: We provide continuous review and support to ensure your benefits package remains competitive and effective.

Let Westside Retirement & Financial Services be your trusted partner in optimizing your employee and executive benefits programs. Contact us today to discuss how a strategic approach to benefits can strengthen your business and empower your people.