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BOLI in the News
 

May 29, 2008

In recent weeks much has been written about the sizable losses that were taken by a few large banks due to write downs of their Bank Owned Life Insurance portfolios. Bank Owned Life Insurance (BOLI) is also known as wholesale or institutional insurance, because no loads or expenses are passed to the policy owner except the mortality charge. BOLI has been purchased by financial institutions for over 25 years as an attractive investment used to offset the costs of providing employee benefits. BOLI has traditionally been thought of as an extremely conservative and stable asset, so what led to the sizeable write downs at Fifth Third Bank and Wachovia and should you be worried about your BOLI holdings?

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Strategies in Executive Compensation By Christine Burns-Fazzi
 

May 23, 2008

High performing people drive the nation’s federal credit unions. Despite major differences in asset size, employment size, split of responsibilities and membership criteria, people in the executive offices are making the decisions that propel the nation’s credit union business forward.

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Frequently Asked Questions - Post Reitrement Medical Plans
 

January 1, 2007

With the cost of health care increasing by double digits each year, post- retirement health care plans are becoming a hot button in the area of employee benefits. Credit unions seeking to retain and reward their top-notch talent need to learn more about these plans and consider including them as part of their executive compensation package.

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Roles and Responsibilities of a Fiduciary
 

March 1, 2006

The last several years have seen issues surrounding employer sponsored retirement plans make headlines. The company stock scandals connected with the Enron collapse, the recently predicted death of traditional pension plans and the pending pension legislative reform currently being considered in joint committee to reconcile the US Senate and House pension bills are a few. The laws that govern retirement plans are complex and often little understood by those who are required to adhere to them.

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Frequently Asked Questions About 409A
 

February 2, 2006

What is 409A?

In 2004, Congress passed the American Jobs Creation Act of 2004. As part of this Act, Congress completely rewrote the rules governing nonqualified deferred compensation by adding Section 409A to the tax code. The rules are effective starting January 1, 2005, and all deferred compensation plans must operate in compliance with the rules as of that date. Documentary compliance must be completed by December 31, 2005.

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