Have You Looked At Your Split-Dollar Retirement Plan Lately?
Posted in Finance and Insurance, Operations and Infrastructure on Oct 15th, 2008 No Comments »
With the way that today’s markets are trending, everyone is looking nervously at their retirement accounts and plans. Nothing is more unsettling than believing you’re all fixed for retirement, and then seeing you’re not, which is what many credit union executives with split-dollar retirement plans are finding out. Tax and accounting rules have changed the manner in which these plans function, with significant implications for the long term performance and risks. In addition, the IRS is requiring a review of these plans by year-end.
This podcast features a conversation with Larry Brody of Bryan Cave LLP, a nationally known expert in estate planning and the use of life insurance in estate and non-qualified deferred compensation planning, including split-dollar. Also joining us is Chris Burns-Fazzi, a principal at Burns-Fazzi, Brock — Chris has worked in retirement and benefit planning for executives in financial institutions since 1995, and in benefit planning in public and private corporations since 1985.
Burns-Fazzi, Brock is also offering a free legal evaluation of split-dollar plans for NAFCU Members — please contact Chris directly for more information.
Contacts: Larry Brody, Partner, Bryan Cave LLP, lbrody@bryancave.com, www.bryancave.com, 314 259-2652; Chris Burns-Fazzi, Principal, Burns-Fazzi, Brock, cfazzi@bfbbenefit.com, www.bfbbenefit.com, 704 332-2265 x1
Interviewer: David C. Frankil, President, NAFCU Services Corporation, dfrankil@nafcu.org, www.nafcu.org/nafcuservices, 703 522-4770 x226
Show References: www.nafcu.org/bfb
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