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Synopsis:
Help your clients attract and retain high caliber employees with this new, compact reference guide. An ideal educational tool for today's information-hungry and time strapped professional, this book includes an overview of the various compensation plans available, the many features each plan offers, and a summary of how they compare and can be applied to different scenarios.
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Jacket Description:
“The Society of Financial Professionals has long been dedicated to the principle of providing ongoing education to the industry. Now, this compelling new guide continues the tradition and the legacy of learning”
by Alan R. Ziegler, CEBS, CLU, ChFC
President, Society of Financial Professionals
To attract and retain top tier employees, employers must craft appealing compensation plans. Individuals need information on the many plans available to determine which will benefit them most when negotiating new contracts. And today's busy financial service professionals need to stay abreast of all the latest plans - so they can advise their clients accordingly.
Now, the Society of Financial Professionals has teamed up with tax and compensation planning expert, Lou Shuntich, to bring it all together in one compact volume. This “one-stop” source provides a concise, to-the-point overview of…
· The various plans available.
· The significant features of each plan offers.
· And a summary of how they compare and can be applied to different scenarios.
The compact, easy reference format makes this guide simple to use. Concise, straightforward chapters address the various tax and ERISA issues that must be evaluated, and an easy-reading chart covers the comparison criteria needed to draw sound conclusions.
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Table of Contents:
Foreword
by Alan R. Ziegler, CEBS, CLU, ChFC
Introduction
Chapter 1
EXECUTIVE BONUS (SECTION 162) PLANS
Chapter 2
EXECUTIVE BONUS ARRANGEMENTS
Chapter 3
PRIVATE SECTOR NONQUALIFIED DEFERRED COMPENSATION PLANS
Chapter 4
GOVERNMENT AND NONPROFIT IRC SECTION 457 PLANS
Chapter 5
SPLIT DOLLAR LIFE INSURANCE
Chapter 6
COMBINING SPLIT DOLLAR AND NONQUALIFIED DEFFERED COMPENSATION
Chapter 7
GROUP TERM “CARVE-OUT” PLANS
Chapter 8
IRC 419A(F)(6) DEATH BENEFIT AND SEVERANCE PAY PLANS
Chapter 9
HOW TO EVALUATE NEW COMPENSATION PLANNING SALES OPPORTUNITIES
Life Insurance Oriented Compensation Plans Summary and Comparison Chart
Glossary
Resource Guide
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Review:
Compensation planning using life insurance is more important than ever - both for employers looking to hire and retain the best people, and for top-salaried employees who need to mitigate their tax liabilities when negotiating salary packages. And for the financial advisors who dispense guidance to both groups - keeping up to date on the many plans and tax implications is absolutely essential. Now, the compact new book Compensation Planning with Life Insurance provides a comprehensive yet concise snapshot of the most critical, "need-to-know" information on the topic.
Perfect for time-strapped professionals, industry expert Lou Shuntich lists the various plans available, highlights the significant features of each, and provides an overview of how they compare and can be applied in different scenarios.
The first few chapters address the most common executive bonus plans, variations on them, pros and cons of each, related tax issues and basic ERISA concerns. Chapter 3 specifically covers plans designed for government and non-profit entities. He then deals with the applications of life insurance – including the goals of the various plans, funding options, tax implications and other key concepts. Death Benefit and severance pay plans that were severely affected by recent changes in the tax codes are cover in Chapter 8, And in Chapter 9 Shuntich provides a useful tool to compare and evaluate the various plans – and any new or unusual arrangements you may be interested in marketing in connection with life insurance.
The sweeping tax reforms of the 1990s had a big impact on the options available to highly compensated employees for sheltering their income. Now, this concise new work, endorsed by the Society for Financial Services Professionals, provides an efficient but not overwhelming reference source on the topic.
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