Press Release Summary:
Suited for non-profit healthcare organizations, CompPlus360 enables comparisons between executives and compensation plans, and helps organizations ensure that their programs are competitive, reasonable, and meet regulatory requirements. Valuation tool provides trustees with accurate means to compare total value of cash compensation, SERPs, and other retirement benefits. It also helps healthcare organizations meet their recruitment and retention goals.
Original Press Release:
Sullivan, Cotter and Associates, Inc. Launches CompPlus360
An Easy-to-Understand Way to Value Compensation
NEW YORK, Jan. 31 / -- Sullivan, Cotter and Associates, Inc. has created a new valuation tool, CompPlus360, an instrument which simplifies compensation and benefits decision-making by employing a value-based, rather than cost-based, model. The tool allows SullivanCotter to distill cash compensation, supplemental executive retirement plans (SERPs), and broad-based retirement benefits into a single annual value.
"Creating retirement packages for executives has become more complicated and regulatory bodies continue to look closely at non-profits' deferred compensation practices, perhaps due to scandals in the private sector," notes SullivanCotter principal Chris Terranova. "At this time, SERPs are virtually the only option available for non-profit healthcare organizations to provide their executives attractive tax-deferred retirement benefits. Yet, because of their complexity, SERP costs and values can be difficult for compensation committees and board members to understand."
CompPlus360 enables apples-to-apples comparisons between executives and plans, and helps organizations ensure that their programs are competitive, reasonable, and meet regulatory requirements. CompPlus360 provides trustees with a clear, accurate means for comparing the total value of cash compensation, SERPs, and other retirement benefits, along with helping healthcare organizations meet their recruitment and retention goals.
"Historically, SERP costs and values could best be measured by information entered into an organization's annual Form 990 tax return, and more recently, in tally sheets," notes Ms. Terranova. "Unfortunately, neither of these lends itself to clear interpretation by board members. We've developed a methodology that focuses on annual value and arms the board with information that will equip them to make decisions that can be supported to regulatory bodies, outside stakeholders, and the media," she concludes.
For more information about CompPlus360, or questions about how to calculate executive compensation, preparing market comparisons, and communicating with your board, please contact SullivanCotter at 888-739-7039. Sullivan, Cotter and Associates, Inc. specializes in the development and implementation of strategic total compensation and reward programs. SullivanCotter has worked closely with healthcare organization executives, boards, and compensation committees to devise innovative compensation solutions that attract and retain leadership talent while satisfying not-for- profit missions and regulatory requirements. A leader in independent consulting, benchmarking, trends, and analyses, SullivanCotter has also developed the most widely recognized executive and physician compensation surveys in the United States. SullivanCotter has offices in Atlanta, Chicago, Dallas, Detroit, New York, Parsippany, San Francisco, and Westport. For more information, visit www.sullivancotter.com/ or call 888-739-7039.
Source: Sullivan, Cotter and Associates, Inc.
Web site: www.sullivancotter.com/