We are excited to announce our new webpage that focuses on Lockheed Martin benefits for employees, executives, and the c-suite at LMCO. The Lockheed Martin Benefits webpage, launched just this past week, takes a deep dive look at strategic opportunities for LMCO executives and senior key talent to bridge existing gaps in their retirement savings plans and insurance coverage.
Frequently, benefit plan participants either don’t realize that these gaps exist, or they recognize the shortfalls but don’t know how to solve the problem. Exploring the content-rich webpage will give LMCO employees a better understanding of the savings opportunities they may be underutilizing and the types of deficits they may have in their insurance coverage. They will also learn how the Financial Harvest Wealth Advisory team can help them create more security and peace of mind for themselves and their families.
401(k) Modeling Case Studies
Included on the LMCO benefits webpage, are the results of three case studies examining how executives at various salaries and ages can take better advantage of their 401(k) plan, reducing or eliminating reliance on non-qualified deferred compensation as a retirement savings option.
Insurance Coverage Gaps and Health Savings Opportunities
Employee life insurance and long-term disability insurance are often provided to employees based on the amount of the employee’s base pay. But employees, especially executives, often have bonus pay and long-term incentives included as part of their total rewards.
The challenges that occur when insurance coverages are based on only a portion of an employee’s total rewards are not unique to Lockheed Martin employees and executives. You can learn more about the problem as well as options for resolving it by reading about the examples of LMCO executives Elizabeth who faced a serious shortfall in life insurance coverage and Samuel, whose long term disability insurance could have created tremendous burden for his family. Plus, there are the opportunities of health savings accounts (HSAs) that employees at almost every level of earning fail to use to the plan’s optimal capacity.
Beyond Benefits for Lockheed Martin Employees
In today’s work environment, organizations have no choice but to proactively work to recruit, retain, and reward key talent critical to the company’s success. Employee financial wellness and retirement readiness is no longer solely the responsibility of the employee. In today’s competitive work world, employers are accountable for partnering with their workforce, positioning their teams for success both at work and in life.
If your company would like to expand its benefits offerings and provide employees and executives better tools for savings and retirement, contact David at Financial Harvest.