NU Online News Service, Feb. 18, 2004, 4:32 p.m. EST – Guardian Life Insurance Company of America, New York, is stepping up its push for 412(i) plan business.[@@]
The insurer has added a family of pension trust whole life policies and annuity contracts designed to fund 412(i) plans.
Section 412(i) of the Internal Revenue Code lets business owners who use guaranteed life insurance policies and guaranteed annuities to fund defined benefit pension plans escape from some of the regulatory burdens imposed on sponsors of other types of defined benefit pension plans.