Benefit Liability Management: Offsetting Employee and Executive Benefit Expenses

July 16, 2020 | 2:00pm - 3:00pm ET

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About the Webinar

Benefit Liability Management isn’t a new concept in the credit union industry, but the current financial environment is prompting many credit unions to take a second look at it. Sometimes called Benefits Pre-funding, it is simply purchasing an otherwise impermissible investment to offset employee and executive benefit expenses. Before implementing Benefit Liability Management, several key questions must be considered. While there is no right or wrong answer, it’s important to note that each credit union must carefully decide what’s appropriate for their particular situation and their membership. Join this webinar for an overview of Benefit Liability Management and discussion of these key considerations:

1.    Which otherwise impermissible investment is right for my credit union?

2.    What investment options are available?

3.    What is the accounting treatment?

4.    What compliance review is needed?

5.    Is it necessary to use a firm to implement benefit liability management?

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Presented By

Jeremy DeBruin
Jeremy DeBruin

Area Vice President | Gallagher

Mr. DeBruin has 15 years of experience in the financial services industry, specializing in the design and implementation of nonqualified executive benefit plans. Mr. DeBruin began his career consulting for regional and community banks, and has spent the last decade working in the credit union industry.

Mr. DeBruin consults with executives and boards to develop strategic benefit programs that focus on retaining, attracting, and rewarding their key people. He monitors all laws and regulations that affect executive benefit programs and the assets used to fund them.

Kraig Klinkhammer
Kraig Klinkhammer

Chief Operating Officer | Gallagher

Kraig Klinkhammer works closely with asset management firms, life insurance companies and other financial service organizations to ensure the firm’s principals and consultants have competitive solutions to meet unique client objectives. In addition, he is responsible for monitoring performance and diversification metrics of client impermissible investment portfolios and will recommend adjustments if necessary to keep them properly aligned with investment guidelines.

He has more than 19 years of experience in executive benefits, asset management and various applications of life insurance and financial planning. He manages investment and portfolio strategy for BFB Gallagher.

Gallagher Benefit Services, Inc., a subsidiary of Arthur J. Gallagher & Co., (Gallagher) is a non-investment firm that provides employee benefit and retirement plan consulting services to employers. Securities may be offered through Kestra Investment Services, LLC, (Kestra IS), member FINRA/SIPC. Investment advisory services may be offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Certain appropriately licensed individuals of Gallagher are registered to offer securities through Kestra IS or investment advisory services through Kestra AS. Neither Kestra IS nor Kestra AS are affiliated with Gallagher. Neither Kestra IS, Kestra AS, Gallagher, their affiliates nor representatives provide accounting, legal or tax advice.