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- Title
Nonqualified Plans and the Evolution of the Silken Handcuff.
- Authors
Dunlop, Mark J.; Iskiwitch, Joel S.
- Abstract
Executive bonus plans, a program in which a key employee purchases a life insurance policy on himself or herself and is the owner of the policy while the employer typically pays bonuses to the employee equal to the amounts of the premiums, have become much more widely used since the U.S. Tax Reform Act of 1986. The authors of this article explain the advantages of using a bonus plan within the context of a portfolio of nonqualified plan alternatives. They point out that a major problem for an employer choosing this option is the minimal ability to retain the executive and suggest that the use of a modification of ownership rights agreement may eliminate this problem.
- Subjects
UNITED States; LIFE insurance; DEFINED contribution pension plans; INSURANCE policies; INSURANCE; TAX administration &; procedure
- Publication
Benefits Quarterly, 1992, Vol 8, Issue 3, p32
- ISSN
8756-1263
- Publication type
Article