As a type of defined benefit pension plan, cash balance plans can help employers attract and retain employees through enhanced benefit security, and maximize annual tax-allowable contributions to “qualified” deferred compensation arrangements through current (versus future) tax deductions.
Read More
Newport Group, a leading provider of retirement plans, insurance, and consulting services, announced today that Jeff Hornsby has joined the organization as Regional Director.
Read More
Insurance company owned life insurance (ICOLI) is one of the few vehicles that can help improve tax-adjusted earnings, receive favorable Risk Based Capital (RBC) treatment and enhance the investment choices available to insurers.
Read More
BOLI is an asset class held by the bank which provides an effective vehicle for informally financing both broad-based employer sponsored benefits programs, as well as the cost of employee benefits, matching the long-term nature of the asset with the continual increasing costs.
Read More
Along with proposed regulations under Code Section 409A that were issued on June 22, 2016, the Internal Revenue Service simultaneously published proposed regulations providing updated guidance on deferred compensation plans under Internal Revenue Code Section 457. The regulations will generally apply to amounts deferred in calendar years after the date they are finalized, and to amounts deferred prior to that date that were not previously included in income. Until finalized, employers may rely on the proposed regulations.
Read More