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K2retire

sample plan document

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I am a TPA working at a financial services firm. I do not work on any non qualified plans. My boss seems to think that I should be able to provide him with a sample of boilerplate language for a COLI plan. In the qualified plan area, I can't imagine anyone being willing to share that for free. Is it something that might be available for a non qualified plan?

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1 minute ago, david rigby said:

I can recommend several very good attorneys who specialize in employee benefits.

I'm sure there are many -- but the bottom line is that he wants it for free!

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COLIs have a pretty shady history, although the IRS has forced some clean up.  Not for the inexperienced, if one has any integrity or sense of shame.

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If you want to see examples of NQDC plans, go to the SEC website, pick your favorite company, search out their latest 10-K and scroll through the Exhibit 10 listings.  You should be able to find if the company has an NQDC and, if so,  which SEC filing includes the text of the plan document.

However, you are almost assuredly not going to find COLI or any kind of funding directly mentioned in the NQDC plan document; these are unfunded plans.  When a company chooses to informally fund a plan, the TPA really needs direction from the client on what the funding strategy is because there can be a wide variety implemented (from basic to "I can't admin this!"). 

@QDROphile - I'd agree that companies that plan on utilizing COLI need to be thoughtful and informed. Having trusted advisors is crucial.  I'd also agree that there have been some abuses, some of which make for good headlines in national publications, which drove legislation in 1995, 1997 and 2006 to foreclose on those opportunities. 

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