Description

The primary purpose of the committee is to recommend policy to the AALU Board on issues relating to the use of life insurance in and the broader set of issues affecting nonqualified deferred compensation or employee benefit planning. The committee members bring the marketplace expertise to help, with AALU counsel, staff and industry partners, arrive at legislative or regulatory approaches to protect legitimate practices from legislative or regulatory risk or address abusive practices which could pose threats to advanced life insurance planning. Most issues require continuous monitoring and frequent reevaluation of strategy. A second purpose of the committee is to indentify topics and speakers for AALU’s Annual Meeting, educational and hot topic webinars, and other forums which will be of greatest benefit to AALU members who practice in this area of advanced life insurance planning. The committee operates through a series of monthly conference calls and special conference calls or meetings on an as-needed basis.

Key Issues

COLI legislation, deferred compensation legislation, deferred compensation regulations, accounting for life insurance and deferred compensation; tax reform.

Duties/Timeline

-  Steering committee: Meet with AALU staff and counsel via conference call to discuss approach to key issues in the Nonqualified Plans arena on at least a monthly basis.
-  General committee: Meet with AALU staff and counsel via conference call to discuss issues in the NQP arena on at least a quarterly basis
-  Receive periodic updates on issues developments from AALU and provide input.

Committee

Chair: Richard DeVita
Vice-Chair: Brian Ellerman
Vice-Chair: Samir Sheth
Board Liason: Michael Goldstein

Members

Broader Issues