Guest wmacdonald Posted July 28, 2002 Posted July 28, 2002 As many of you know, the legislation is intending to make assets held in a rabbi trust currently taxable to executives. What are people seeing as the alternative? Also, the new "executive loans" will have a major impact on split dollar life insurance, what's everyone doing?
GBurns Posted July 30, 2002 Posted July 30, 2002 What "executive loans" are you referring to? George D. Burns Cost Reduction Strategies Burns and Associates, Inc www.costreductionstrategies.com(under construction) www.employeebenefitsstrategies.com(under construction)
Guest ndt123 Posted July 30, 2002 Posted July 30, 2002 There are two proposals: The Thomas bill in the house, and the Senate Finance bill that will be considered in September. The Thomas bill treats any deferred compensation by owners, executives or officers as compensation in certain circumstances. The senate finance bill directs the Treasury to issue regulations dealing with many aspects of deferred comp, including ways to accelerate distributions to avoid bankruptcy issues. If the Thomas bill goes through, many current arrangements will need to be modified to eliminate rabbi truts, haircuts, hardships...
Guest wmacdonald Posted July 31, 2002 Posted July 31, 2002 Ken Kies who runs our Washington Group (also represents AALU) did a on line call this week with our clients and advisors. You will be able to download his comments and the many questions in a few days. You can download them from www.clarkbardes.com/crg. His comments regarding the bill signed this week, was that any premium payments to a split dollar policy for executives of publicly traded companies will fall under the executive loan area.
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