tiprankstipranks
SR Bancorp Introduces New Executive Retirement Benefits Plan
Company Announcements

SR Bancorp Introduces New Executive Retirement Benefits Plan

Don't Miss Our Christmas Offers:

An announcement from SR Bancorp, Inc. (SRBK) is now available.

Somerset Regal Bank has introduced a new Supplemental Executive Retirement Plan (SERP) to provide additional retirement benefits for selected executives, countering the loss from a previously frozen pension plan. Executives such as William P. Taylor, Christopher J. Pribula, and David M. Orbach will see annual contributions to their accounts, which remain fully vested at all times. Benefits from this plan will be distributed over twenty years following an executive’s departure, unless employment is terminated for cause, leading to a forfeiture of the benefits. In the event of an executive’s death, their beneficiaries will receive the account balance promptly.

Find detailed analytics on SRBK stock on TipRanks’ Stock Analysis page.

Related Articles
TipRanks Auto-Generated NewsdeskSR Bancorp Approves 2024 Equity Plan and Directors
TipRanks Auto-Generated NewsdeskSR Bancorp Merges, Goes Public, and Expands Operations
TheFlySR Bancorp announces initial stock repurchase plan
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App