The Newport Group, a leading national provider of retirement and executive benefit plans, today released Executive Benefits: A Survey of Current Trends, which tracks issues and outlooks regarding the rewards programsof Fortune 1000 firms.
"This survey is always much anticipated, but this edition is noteworthy in several ways," said Bryant Kirk, Newport's Chief Operating Officer. "Aside from the survey results themselves, Newport has enhanced its findings with observations and annotations from its expert non-qualified plan consultants. Throughout the report, this commentary provides contextual analysis to enable plan sponsors and their advisors to better understand the meaning of specific results."
The survey's perspective has also been enlarged with supplemental data regarding trends in executive benefits, as reflected in the public filings of Fortune 500 public companies in 2010. This research was compiled in collaboration with Main Data Group, a research and consulting company and a leading source of executive benefit and total reward information.
"With the survey data and these new features," Kirk commented, "we believe this report represents the most broadly comprehensive view of non-qualified plans available today."
Key Findings: Trends Continue to be Positive
- 83% of firms report offering a non-qualified deferred compensation (NQDC) plan, and the prevalence of these plans in the large corporate marketplace remains stable in spite of the recent economic downturn.
- 47% of respondents report their eligible employees elect to participate in their plan. Participation has returned to previous levels despite a brief decline reflecting the market turmoil of recent years.
- 61% of respondents administer their NQDC plans through a third party.
- 75% of respondents report funding their NQDC plans.
- 51% of responding companies report having defined benefit (DB) SERPs.
In addition to the survey, Newport offers a customized peer benchmarking analysis which provides comprehensive competitive intelligence about executive benefits. Newport's proprietary service provides information not just about salary, equity and bonuses, but also data about the prevalence, features, and relative economic value of executive benefit plans. These services, and the expertise of Newport's non-qualified consulting team, result in contemporary benefit programs that help companies and their executives reach their financial goals.
"Employers can use both our benchmarking analysis and our Survey of Current Trends report to benchmark their own plans against their peers and those of other leading companies across the U.S.," Kirk said. "Ultimately, these useful insights will help them make better, smarter and more informed decisions about their own benefits programs."
About The Newport Group
Founded in 1984, The Newport Group is a leading retirement services firm—specializing in the creative design and administration of retirement and executive benefit plans as well as investment and fiduciary consulting services. Through its innovative and customized solutions, Newport is uniquely positioned to satisfy the distinct financial needs of employers and employees, and has done so for hundreds of the country's largest and best-known companies.
Newport is headquartered in Heathrow (Orlando) FL, with service centers in Charlotte NC, Dallas TX, Greensboro NC, La Crosse WI, Richmond VA, St. Louis, and St. Petersburg FL. Newport also has offices in Atlanta, Boston, Cincinnati, Denver, Los Angeles, New York NY, and San Francisco. For more information, visit www.newportgroup.com.
Contacts:
The Newport Group
Geraldine O'Brien, 407-333-2905
VP,
Communications
E-MAIL: gobrien@newportgroup.com
CELL:
908-209-8727
WEBSITE:www.newportgroup.com
