Section 412(i) Plans: Emerging Abuses Involving Depressed Cash Value Insurance

Journal of Pension Benefits, Vol. 10, No. 2, 2003

14 Pages Posted: 27 May 2011

Date Written: January 1, 2003

Abstract

In a clarion call for the exercise of common sense, this article provides background about a laudable concept--the fully-insured defined benefit plan-that some "marketeers" have found a way to pervert for the sake of increased production numbers. Special attention is given to the legally-questionable practice of using speciously-designed insurance products, the problems with planned over-contributions in comparison to benefits, and the advisor’s potential liability under laws governing breach of fiduciary duty.

Keywords: defined benefit plan fully insured insurance annuity 412(e) 412(i) pension plan 412 springing cash value insurance breach fiduciary duty ERISA Internal Revenue Code

Suggested Citation

Koresko, John J., Section 412(i) Plans: Emerging Abuses Involving Depressed Cash Value Insurance (January 1, 2003). Journal of Pension Benefits, Vol. 10, No. 2, 2003, Available at SSRN: https://ssrn.com/abstract=1852673

John J. Koresko (Contact Author)

Koresko Law Firm, P.C. ( email )

200 W. 4th St.
Bridgeport, PA 19405
United States
610-992-2200 (Phone)

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