December 04, 2007 10:40 ET

MullinTBG Introduces IDP Select(SM), Cost-Effective Executive Benefit Plan Designed for Middle-Market Companies

LOS ANGELES, CA--(Marketwire - December 4, 2007) - MullinTBG, the nation's largest independent provider of executive benefits, today announced the introduction of IDP Select(SM), a cost-effective solution for implementing deferred compensation plans at middle-market companies to help them compete with industry giants for top talent.

IDP (Income Deferral Plan) Select(SM) is a unique offering developed by MullinTBG to help growing companies meet their own corporate objectives as well as the wealth accumulation and retirement income needs of their key executives. To realize administrative efficiencies, MullinTBG has selected Wilmington Trust, a leading provider of trustee and administrative services for corporations worldwide and a specialist in retirement plan trustee services, as well as household name insurance companies, to deliver an executive deferred compensation plan that can be quickly and easily implemented.

MullinTBG's comprehensive approach fast tracks companies through the entire IDP Select(SM) set-up and administration process, from plan design and informal funding with corporate-owned life insurance (COLI), through implementation, recordkeeping and reporting.

"For more than 50 years, we have worked with Fortune 1000 companies to develop executive benefit plans that provide a competitive advantage critical to corporate retention," said Mike Shute, chief executive officer of MullinTBG. "We're offering all of that expertise with IDP Select(SM), which provides the same flexible, state-of-the-art system functionality and exceptional client service at a price structure that makes it more accessible to a wider range of companies that need to recruit, reward and retain key executive talent."

Like most income deferral plans made available only to highly compensated employees, IDP Select(SM) allows executive participants to determine how much compensation to defer and when to receive benefit payments. Unlike qualified plans, there are no statutory limits on contributions, and benefits are unlimited. The company promises to make future payments of the deferred amounts, plus any earnings or losses based on the returns of the executives' "deemed" investments.

"Most employers understand that qualified plans severely limit executives' opportunities to save pre-tax dollars in order to financially prepare for retirement," said Jim Clary, president of MullinTBG. "We've efficiently integrated all of the necessary executive benefit plan features into IDP Select(SM), making it simple for middle-market companies to offer enhanced savings opportunities to the executives that are driving their success. At the same time, this new solution is scalable, so its full-service offerings will adapt as these businesses continue to evolve and grow."

To deliver rabbi trust services that protect the executives' benefits in the event of a change of control or management change of heart, MullinTBG teams with Wilmington Trust, which also provides high-quality, cost-effective COLI premium remittance processing, benefit payment services and tax reporting.

IDP Select(SM) clients will also have their choice of insurance companies to underwrite the COLI, which is designed to track the plan liability, insulating the P&L from volatility. The insurance company provides daily electronic net asset value transmissions for the plan, cash value reporting and fund reporting.

About MullinTBG

MullinTBG is one of the nation's largest providers of nonqualified executive benefits, with more than 600 customized plans and $21 billion in total assets under management (as of 09/30/07) representing over 50,000 corporate executives. The firm operates two client service centers, one from its Los Angeles headquarters and one from Chicago, and has regional offices in Baltimore, Boston, Dallas, New York, and Newport Beach. For more information, please visit

About Wilmington Trust

Wilmington Trust Corporation (NYSE: WL) is a financial services holding company that provides Regional Banking services throughout the Mid-Atlantic region, Wealth Advisory Services for high-net-worth clients in 36 countries, and Corporate Client Services for institutional clients in 86 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware. Wilmington Trust Corporation and its affiliates have offices in California, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, and Luxembourg. For more information, visit

Contact Information

  • Media Contacts:
    Marilyn Haese or Daryn Teague
    Haese & Wood Marketing
    Email Contact
    (310) 556-9612