Time to Revisit Your Rabbi Trust in These Tough Economic Times
Original Air Date: Thursday, May 28, 2009
William L. MacDonald Chairman, President & CEO Retirement Capital Group, Inc.
Peter D. Quinn Senior Vice President - Managing Director Wachovia Bank - National Association
With these tough economic times, benefit security has been on the minds of many executives as it relates to their executive benefit programs. With the downturn in the market, we have seen benefits lost at major companies due to insolvency. Not seen in the press is the loss of benefits do to a change in control from poorly structured trust arrangements. It's time to dust off your Rabbi Trust to see if you can add some "belt and suspenders" to beef up the protection.
William MacDonald, President & CEO of Retirement Capital Group, and Peter Quinn, Senior Vice President - Managing Director of Wachovia Bank, will discuss the issues and current best practices for designing your security device to add the most protection possible under 409A. They will also share some case studies and discuss areas to avoid.
About Retirement Capital Group, Inc. Retirement Capital Group, Inc. (RCG) is a full service executive benefits firm that is committed to helping companies attract, retain, and appropriately compensate and reward their talented executives. This is accomplished first with a thorough assessment of a company's goals, financial and tax status, and more. RCG's recommendations are customized to meet each client's needs. Only then will an innovative and appropriate solution unfold that will meet expectations and deliver the intended results.
About Wachovia Wachovia is now part of Wells Fargo. Together, we're one of North America's largest and most diverse financial services companies with a legendary reputation for strength and stability, offering more convenience and resources to help you reach your financial goals. We can serve you through more than 11,000 stores, over 12,000 ATMs, the Internet and other distribution channels across North America and internationally.
Wells Fargo & Company (NYSE: WFC) is a diversified financial services company providing banking insurance, investments, mortgage and consumer finance. We're headquartered in San Francisco, but we're decentralized so every local Wells Fargo store is a headquarters for satisfying all our customers' financial needs and helping them succeed financially.
We're Number 1 in the U.S. in community banking presence (6,600 stores), mortgage originations, small business lending, middle market commercial banking, agricultural lending, commercial real estate lending, commercial real estate brokerage and bank-owned insurance brokerage. We're Number 2 in deposits, home mortgage servicing, and debit card. For more detailed information, please visit the Wells Fargo Web site.