Below is a good review of the IRS final regulations to enhance DB plans, which allows participants to elect annuity payments inside of their defined benefit plan. We hope you find this information useful. Feel free to contact us if we may be of…
Leaving One State for Another, Don’t Get Stuck In Between
Each state has unique rules for establishing or terminang income tax residency. See below for more informaon about common residency guidelines and potenal obstacles. We hope you find this informaon useful. Feel free to contact us…
401(k) Hardship Distributions: IRS Eases Substantiation Requirements
While 401(k) Hardship Withdrawal rules have been eased, keep in mind that Deferred Compensation Plan rules for Hardship Withdrawals remain unchanged. See below for more information on the new 401(k) Hardship Withdrawal rules.
DOL Issues “Highly Compensated Employee” Definition in FLSA Guidance
On March 7, 2019, the United States Department of Labor (“USDOL”) issued its long-awaited proposed rule that would increase the minimum salary threshold to qualify for exemption from the overtime provisions of the Fair Labor Standards Act (“FLSA”)…
Los Angeles native Peter Mullin shares what he’s learned as a leader of 15 institutions
L.A. native shares rules of the road for effective leadership From the Petersen car museum to UCLA’s business school, Peter Mullin has helped steer dozens of institutions. At age 73, Peter Mullin shows no signs of slowing down.
Bank Owed Life Insurance (BOLI) Services Overview
Pre-Purchase Analysis The Pre-Purchase analysis for a BOLI transaction is a critical report documenting the BOLI decision-making process and identifying the due diligence performed prior to execution of the purchase. This material will include…
COLI Mechanics: Why Aggregate Funding?
Corporate-owned life insurance (“COLI”) is a financing alternative widely utilized by public and private companies, financial institutions, banks and insurance companies as a means of financing executive benefit obligations.
Prudential/PLANSPONSOR 2018 Executive Benefit Survey
The Top 10 Reasons Why Non-Qualified Deferred Compensation Plans Are Popular Many breathed a sigh of relief when the Tax Cuts and Jobs Act ultimately removed a provision that would have placed significant restrictions on nonqualified…
Section 162 Executive Bonus Plans
What is a 162 Executive Bonus Plan? A 162 Executive Bonus plan allows a business to provide life and/or disability income insurance to key executives using tax deductible dollars. Insurance policies are owned by the executives…
Funding & Benefit Security
Events during the past two decades have increased executives’ focus on the security of their non-qualified arrangements. This heightened awareness of benefit security comes at a time when companies, shareholders and the media are focused…