Watch Recorded Webinar (Available Below)
Date: October 31, 2017 Time: 2:00 pm - 3:00 pm (ET)
After several years in the making, the NCUA recently published its guidance for examiners on Section 701.19. Under this regulation, a federal credit union may hold otherwise impermissible investments if the investment is “directly related” to the credit union’s obligations or potential obligations under an employee beneﬁt plan. The guidance addresses due diligence and direct relationship requirements, in addition to concentration limits for typical investments and individual insurers.
BFB Gallagher partners with the law firm of Sherman & Patterson to ensure federal and state compliance on every proposal, guidance, or regulation affecting executive benefits for nonprofits. The Minneapolis-based law firm represents credit union interests to regulatory agencies and examiners. Jim Patterson will explain the implications of the guidance and what action, if any, you should take now.
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Kraig has 20 years of experience in executive benefits, asset management, and various applications of life insurance and financial planning. As BFB Gallagher’s chief operating officer, Kraig ensures our clients’ benefit and investment programs run smoothly, from design to ongoing service. He sets the pace for staff goals, developmental training, and forward-looking corporate initiatives. Kraig also manages our investment and portfolio strategy, working closely with asset management firms, life insurance companies, and other financial service organizations to ensure clients have access to a wide variety of compliant solutions.
BFB Gallagher is the NAFCU Services Preferred Partner for Executive Benefits and Compensation Consulting. To learn more about BFB Gallagher visit www.nafcu.org/bfb