2019Q4 STREAM Report



STRATEGY
1035 Exchange to Single Premium Immediate Annuity (“SPIA”): A relatively uncommon type of 1035 exchange has become the talk of the town in the BOLI market. Learn More

Lifetime SERP (“LINQS+”) – How can I get a lifetime supplemental retirement plan? Learn More

TECHNOLOGY
Newcleus MINTS – no more downloading, view only capability has been added to report viewing options.

SSAE 18 – Newcleus retains auditor for 2019 SOC 1 Type 2 Attestation and Vulnerability Assessment. Reports expected in January 2020.

REGULATORY
TCJA 2017 and Transfer for Value impact on COLI/BOLI marketplace – Final regulation effective October 31, 2019. See update here.

EVENTS AND ANNOUNCEMENTS
New York Life Due Diligence – upcoming 3rd Quarter BOLI Portfolio Review call on Wednesday, November 20th, 2019 at 1:00 pm (EST). Please visit MINTS for more info.

AOBA 2020 | January 26-28
We are a proud sponsor of Bank Director’s AOBA Conference. Daniel Barbaree, President, will be in attendance.

ABA 2020 | February 9 – 12
President Daniel Barbaree, will be attending.

ICBA 2020 | March 8 – 12
President Daniel Barbaree, will be attending.

MARKETPLACE
CSO 2017 Mortality Table and what it means for my COLI/BOLI

Index universal life products have been gaining in popularity, most notably the Global Atlantic IUL product.

Stable Value PPVUL – Taking advantage of bank eligible asset classes such as bank sub-debt, or floating rate CLO structures. Within a stable value PPVUL product these investment strategies have generated returns in excess of 4% while maintaining a risk weight as low as 20%.
View Full Marketplace Update

Newcleus BOLI Index Classes (“NBI”)* 


Click here to view Newcleus 2019Q4 BOLI Index

*For informational and discussion purposes only. The NBI does not represent, guarantee or put forth all the terms, rates and conditions of any potential transaction. Newcleus assumes no obligation or liability for updating or otherwise revising the NBI.

Contact Rich Pearson, Chief Administrative Officer, at rpearson@newcleusfinancial.com, or
Chris Pezalla, Executive Vice President, cpezalla@newcleusfinancial.com, for more information.

 

 

Disclaimer: Please note that Newcleus does not practice accountancy, nor engages in the practice of law. The information contained in this guide should not be considered legal, tax or accounting advice. Any appropriate review by the bank’s legal, tax and/or accounting professional should precede any action taken on reliance of the information contained herein.

Circular 230 Disclosure: To comply with regulations issued by the IRS concerning the provision of written advice regarding issues that concern or relate to federal tax liability, we are required to provide to you the following disclosure: Unless otherwise expressly reflected herein, any advice contained in this document (or any attachment to this document) that concern federal tax issues is not written, offered or intended to be used, and cannot be used, by anyone for the purpose of avoiding federal tax penalties that may be imposed by the IRS or promoting, marketing or recommending to another party any matters addressed in this document or any attachment.      

Menu