Private or personal pensions: leveraged split dollar increases retirement capital for professionals

Article Abstract:

Professionals with personal service corporations have a difficult time accumulating sufficient retirement capital because of compliance requirements for qualified and non-qualified compensation plans. Therefore, many professionals choose to invest their retirement funds on an after-tax basis. However, leveraged split dollar life insurance, in which the corporation and professional share premium costs, can be an efficient substitute or supplement for traditional retirement plans. Corporations, however, must meet the IRC section 264(a)(4) $50,000 per life loan limit for life insurance premiums.

Analysis, Compensation and benefits, Professional workers, Professional employees, Professional corporations, Split-dollar life insurance, Split dollar life insurance

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Drafting and administering employee welfare benefit plans governed by ERISA

Article Abstract:

Employee welfare benefit plans should be made to conform with federally mandated criteria to ensure the plans are governed by ERISA rather than state regulations. Policy designers should consult 20 U.S.C.A section 1003, clearly define all individuals and their tasks as required under ERISA and eliminate any profit-making qualities. Plan administrators must also follow ERISA rules to prove that the plan complies with applicable ERISA criteria.

Pension, health, and welfare funds, Employee Benefits Management Svcs, Third Party Administration of Insurance and Pension Funds, Management, Accounting and auditing, Pension funds, Employee benefits, Employee benefits management services

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