Matters of Interest - Volume 43

Economic Conditions Driving Banks to BOLI
For decades Bank-Owned Life Insurance (BOLI) has been a trusted asset for banks, primarily used to help offset the cost of executive benefit programs. However, over the past several years, banks’ use of BOLI has evolved…(read more)

President Biden’s Tax Proposals and Nonqualified Plans
President Biden has included many of his campaign tax proposals in two signature legislative proposals that form part of his Build Back Better plan…(read more)

Nonqualified Deferred Compensation Plans: Designing for Retention
NQDC plans provide an important supplemental savings vehicle to an employer’s qualified retirement plan…(read more)

Update on Changes to Internal Revenue Code Section 7702
As part of the Consolidated Appropriations Act, 2021, Code Section 7702 was updated to reflect the current low interest rate environment and to ensure that rates used to determine what will qualify as life insurance under the Code reflects current economic conditions. (read more)