LOOKING FOR 412(i) PLAN TPA FOR 1 PERSON PLAN

[RayJJohnsonJr]

I HAD POSTED THIS ON THE DB MESSAGE BOARD WITH NO RESULTS, SO I THOUGHT I WOULD GIVE THIS BOARD A TRY.  NOTHING VENTURED, NOTHING GAINED I GUESS.

HI ALL.  I AM  LOOKING FOR 412(i) PLAN TPA FOR 1 PERSON PLAN.  THE PLAN WOULD BE FOR ME.  

THANK YOU,

RAY J. Jr.

[Larry Starr]

5 hours ago, RayJJohnsonJr said:

I HAD POSTED THIS ON THE DB MESSAGE BOARD WITH NO RESULTS, SO I THOUGHT I WOULD GIVE THIS BOARD A TRY.  NOTHING VENTURED, NOTHING GAINED I GUESS.

HI ALL.  I AM  LOOKING FOR 412(i) PLAN TPA FOR 1 PERSON PLAN.  THE PLAN WOULD BE FOR ME.  

THANK YOU,

RAY J. Jr.

Well, since there no longer are 412(i) plans, I have to assume you are NOT a pension professional (which defines most people on this board) but a potential plan sponsor who is not involved in the pension business.  

Now, of course, I don't know your particular situation, but I would question WHY anyone would want a 412(i) plan (it is now 412(e)(3) ).  They are almost always a bad deal (except for the insurance company that sells them).  I am the author of the Life Insurance Answer Book and have been intimately involved in fully insured DB plan issues for over 40 years.  

If you are still serious about this, just google "full insured defined benefit plan" and a whole host of insurance companies will come up in the listing.

[ErnieG]

Ray:  Some life insurance carriers have niches in this market for these plans and have proved their compliance with the spirit and intent of the Rules and Regulations.  Considering your request and without full discovery of your situation these plans are for those is are risk averse and looking for guarantees.  I know of three life insurance companies that offer administrative services and specific products designed for this market (Security Mutual, Guardian, and Lafayette Life).  

[RayJJohnsonJr]

Larry, FYI, most people still use the term 412(i) even though we all know it's changed to 412(e(3).  CPA's call me all the time and still say 412(i). They know it's (e)(3).  But I do respect your attention to accuracy and maybe I should make the CPA say 412(e)(3).  I wonder what architects call thresholds now, when they haven't held back any thrash for 100 years. 

Anywho, the only company I have found that does 412 E threes that's not an insurance company is Pentegra.  I was trying to avoid an insurance company because they will require the use of their products and I wanted to choose products for myself.

Thanks again Larry and Ernie for your input and your time.