Insurance-related compensation / Lawrence Brody, Esq., Partner, Bryan Cave LLP, St. Louis, Missouri, Louis R. Richey, JD, Senior Vice President, Infosys McCamish Systems, LLC, Atlanta, Georgia and Richard C. Baier, JD, Attorney (Retired), Greensboro, North Carolina
- Estates, gifts and trusts portfolios; 828-3rd
- Detailed analysis. Introduction -- A life insurance primer -- Employer-owned/company-owned life insurance -- Bonus life insurance plans -- Insurance-financed deferred compensation plans, including 'death benefit only' plans -- Split-dollar life insurance plans -- Group-term life insurance -- Working papers.
- " ... discusses how to use life insurance contracts to provide, or as an employer-owned asset in connection with providing, compensation and benefits for employees, especially plans covered after the enactment of [section] 409A. To assist practitioners with life insurance plans, this Portfolio provides a primer on life insurance features and taxation, including an overview of the most common types of life insurance contracts and riders, and shows how these insurance products are frequently used in executive compensation. It also discusses group-term carve-out and group permanent plans, company-owned (employer-owned) life insurance and bank-owned life insurance, executive legacy programs, and business-owned investment insurance plans. It gives more extended treatment to bonus life insurance (including restricted access bonus plans), split-dollar life insurance, and to unsecured "promise-to-pay" nonqualified deferred compensation plans (including death-benefit-only plans), which often use life insurance contracts primarily as the financing mechanism. The Portfolio highlights special design issues and problems for each technique. All discussions consider the impact or potential impact of the application of [section] 409A to the compensatory arrangement."
- Publication Frequency:
- Updated irregularly
- AVAILABLE ONLINE TO AUTHORIZED DICKINSON USERS; PASSWORD REQUIRED FOR ACCESS.
- Bibliography Note:
- Includes bibliographical references.
- Technical Details:
- Mode of access: World Wide Web.
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