DOL finds employer-owned cash value in split-dollar arrangement is not plan asset
Article Abstract:
The Department of Labor (DOL) has ruled that 'plan assets' according to Title I of ERISA do not include an employer's share of a split-dollar life insurance policy's cash value. This means that the employer's creditors have a claim on the cash value and that the employer can borrow from the cash value. The company requesting this advisory opinion from DOL had found that this type of life insurance would be cheaper than a group-term life insurance plan.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1993
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The standard of review applicable to benefit denials: does the de novo standard apply to review of factual determinations?
Article Abstract:
The US Supreme Court did not state whether the de novo standard of judicial review should be required for factual findings made by fiduciaries of ERISA plans in Firestone Tire & Rubber Co v Bruch. There are arguments both for and against this requirement and federal courts have ruled both ways.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1993
User Contributions:
Comment about this article or add new information about this topic: