Sentences with phrase «dollar plan»

If an employee is interested in a large amount of personal life insurance but wants the business to buy the life insurance, a split dollar plan can be considered.

A wide variety of split - dollar plans exist today — all involving two or more people or entities splitting the costs and benefits of some sort of permanent life insurance.

A split dollar plan is NOT about a specific life insurance product but rather is a contractual strategy for using life insurance.

Split dollar plans usually terminate upon an event specified in the contract, such as retirement, OR upon the employee's death.

When creating a split dollar plan for a closely held business, the first important question is how to classify an individual who is involved in ownership of the business AND who is benefiting from the policy.

Now the automaker has outlined a multi-billion dollar plan of action called «Strategy 2025,» which calls for cleaner gas engines, third - party emissions tests, and an «electrification initiative second to none in the industry.»

The state is giving more time for energy and environmental interests to react to a multibillion dollar plan by the administration of Gov. Andrew Cuomo that would subsidize renewable energy and nuclear power.

It is very important to cover all aspects of your split dollar plan in detail, because a poorly conceived plan can be «unwound» under the IRS rules and this can lead to major tax consequences for the estates of either the employer or employee.

However, policy loans can be another incentive an employer uses to maintain the loyalty of a key employee, particularly if the split dollar plan requires any policy loan to be repaid if the employee has not been with the company for the requisite amount of time.

Because split dollar plans offer tax advantages, these plans are highly regulated by the IRS and are therefore more «involved» than simpler strategies such as executive bonus plans.

Saint John Baptist Church is being named «designated developer» for 50 city - owned lots in the Fruit Belt as it moves forward on a multi-million dollar plan to build 49 rental town houses.

The $ 22.8 million dollar plan includes improvements to streets, sidewalks and buildings while setting the wheels in motion for some all - new facilities.

To achieve the above benefits, a split dollar plan provides a way of paying for AND owning permanent life insurance by ALLOCATING the cost of premiums AND the benefits of the policy between the employer AND the employee.

In 2003, the IRS endeavored to restrict split dollar plans dramatically by creating an «economic benefit regime ``.

Split dollar plans usually terminate upon an event specified in the contract, such as retirement, OR upon the employee's death.

When you use this tactic, which is sometimes called a constant dollar plan, you can benefit in three ways:

The plaintiff argues that determining the price that would be available on a flat per - participant basis, or the price available under other fee models requires soliciting bids from competing providers: «In billion - dollar plans with over 36,000 participants, such as the Plan here, benchmarking based on fee surveys alone is inadequate.

Split - Dollar Plan Generally used in business situations, a life insurance arrangement whereby the ownership and benefits of a policy as well as the obligation to pay premiums are divided or split between an employer and employee.

An insured person may enter into an arrangement with family members or a trust for the family's benefit, but most split - dollar plans involve a fringe benefit program in which an employer assists an employee in purchasing an insurance policy on the life of the employee for the benefit of the employee's family.

Split dollar plans also require record keeping and annual tax reporting.

The new regulations also removed some of the prior tax benefits, but split - dollar plans still offer some advantages including:

Limitations also exist on the usefulness of split - dollar plans depending on the how the business is structured (for example as an S Corporation, C Corporation, etc.) and whether plan participants are also owners of the business.

On Thursday, September 8, President Barack Obama asked Congress to approve a nearly half - trillion - dollar plan called the American Jobs Act, which seeks to bolster the economy by cutting payroll taxes for employers and employees, aiding the long - term unemployed, and improving the country's physical infrastructure.

i recomend going to a near by athorized cricket store to refresh you account and there is no 60 dollar plan for android only 55 60 is for blackberry smartphones.

Trump was «very positive» toward a multi-billion dollar plan to build a new rail tunnel under the Hudson River at a White House confab last week, but «the fat lady hasn't sung yet,» U.S. Senate Minority Leader Chuck Schumer said.

Split Dollar Plan: An arrangement in which two parties, usually an employer and employee, jointly purchase the policy, pay premiums and share in the policy's benefits.

It is very important to cover all aspects of your split dollar plan in detail, because a poorly conceived plan can be «unwound» under the IRS rules and this can lead to major tax consequences for the estates of either the employer or employee.

Just about six months ago, Gov. Andrew Cuomo came to central New York to announce that the state would chip in $ 30 million for a multi-million dollar plan to revitalize the western lakeshore of Onondaga Lake, including the village of Solvay.

The Dallas Morning News, TXU to double coal - fired production: Multibillion - dollar plan includes pledge to reduce emissions, April 21, 2006

To achieve the above benefits, a split dollar plan provides a way of paying for AND owning permanent life insurance by ALLOCATING the cost of premiums AND the benefits of the policy between the employer AND the employee.

In 2003, the IRS endeavored to restrict split dollar plans dramatically by creating an «economic benefit regime ``.

The state is giving more time for energy and environmental interests to react to a multibillion dollar plan by the Cuomo administration that would subsidize renewable energy and nuclear power.

However, policy loans can be another incentive an employer uses to maintain the loyalty of a key employee, particularly if the split dollar plan requires any policy loan to be repaid if the employee has not been with the company for the requisite amount of time.

Because split dollar plans offer tax advantages, these plans are highly regulated by the IRS and are therefore more «involved» than simpler strategies such as executive bonus plans.

When creating a split dollar plan for a closely held business, the first important question is how to classify an individual who is involved in ownership of the business AND who is benefiting from the policy.

Ford laid out a billion - dollar plan to remake its Dearborn, Mich., locations into a high - tech, Silicon Valley - like campus.

During his tenure as Prime Minister, Mr. Martin set in place a ten year, forty - one billion dollar plan to improve health care and reduce wait times; signed agreements with the provinces and territories to establish the first national early learning and child care program and created a new financial deal for Canada's municipalities.

A multi-billion dollar plan to build a new rail tunnel under the Hudson River could be even more expensive because of the Scaffold Law — a 19th century liability law critics say drives up liability insurance costs, a group looking to repeal the law warned.

Suffolk County is moving forward with a million - dollar plan to restore seven acres of land at Indian Island County Park in Riverhead that once served as a dumping ground for the county's dredging projects.

WHITE PLAINS — State Senate candidate Bob Cohen (R, I, C — 37th District) today warned MTA commuters of another massive fare hike beginning on January first as part of the Legislature's multi-billion dollar plan to bailout the troubled authority.

Agency chairman Joe Lhota spoke for more than an hour — outlining the MTA's multi-billion dollar plan.

The Trump Organization will press ahead with multimillion - dollar plans to expand one of the president - elect's golf resorts in Scotland, despite its apparent pledge to halt new investments overseas.

Late last year, Miner submitted her billion - dollar plan to Cuomo that asked for about $ 850 million to fix the city's crumbling water mains.

Capital District OTB has partnered with a Rochester developer - they've come up with a 300 Million dollar plan to build a casino at Thruway Exit 23.

WASHINGTON (CNN)- In effort to show fellow Democrats he hears their deep concerns about his health care plan, Senate Finance Chairman Max Baucus plans to make changes to his own proposal even before the committee starts voting Tuesday on hundreds of proposed amendments to the $ 774 billion dollar plan.

Today, its transformative results have almost single - handedly made the study of planets orbiting other stars the hottest subfield of astronomy, and have become a linchpin in NASA's multibillion - dollar plans for a variety of future missions.

After advisers blast multibillion - dollar plan to track 100,000 children's health, the agency agrees to kill it

Those champions no doubt will be watching Kramer and Beard — and those half - billion - dollar plans.

And last fall, after someone leaked a private multimillion - dollar plan to vastly expand the number of charter schools in the district, the hostilities rose to new heights.