While the proper design of an executive benefit plan is extremely important, the implementation and annual administration of the plan are equally important.  Sheeter Consulting will help your credit union develop a plan that meets the current and future needs and goals of both the credit union and your executive team.  We will help your credit union navigate through the complex financial and regulatory issues in which credit unions operate.

• Work with each credit union individually to custom design a plan that meets their specific goals and needs.
• We draft legal documents using attorneys that specialize in drafting executive benefit plan documents for credit unions.
• We offer institutionally priced insurance and investment products to informally fund the Executive Benefit Plan.
• We offer one of the industry’s most comprehensive Compliance Manuals.  This Manual is designed to address all due diligence and regulatory inquiries regarding the implemented benefit program.

The credit union has the option of choosing to receive paper administration reports or web-based administration reports.  Regardless of the option the credit union chooses they will receive:

• Monthly Asset Accounting for each plan participant
• Monthly Benefit Accounting for each plan participant
• Adjusting Entries for Plan Events such as: Death, Termination, Retirement, and Changes in Benefits
• Individual Retirement Plan Participant Statements reflecting the current benefit balances for each participant.

As part of our commitment to providing excellent customer service Sheeter Consulting’s Benefit Consultants meet with their credit union clients face-to-face each year to discuss their benefits programs.  These annual plan reviews include:

• Benefit Plan performance analysis
• Evaluating if the plan is achieving the original goals of the plan
• Issues or changes in IRS and NCUA regulations
• Changes in the executive’s and/or credit union’s situation

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