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Fidelity D & D Bancorp (FDBC) has shared an announcement.
Fidelity Deposit and Discount Bank has crafted a supplemental executive retirement plan for Ruth Turkington, their EVP and Chief Consumer Banking Officer, which involves monthly contributions to a retirement account and a fixed interest rate until she turns 70, with various payout conditions based on her employment status and life events. Additionally, a split dollar life insurance agreement offers her beneficiary a significant death benefit tied to her salary, with vesting based on employment duration and other specific conditions. These agreements are designed to provide financial stability and benefits for Turkington during her tenure and beyond.
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