News and Events

FNN Interviews Bob Green & Team

image Michelle with Financial News Network interviews Bob Green and his unbeatable team at Greenhouse Financial about Bank Owned Life Insurance (BOLI). This is a very informative interview, click here to watch it now!


About H.R. 4520 and Section 409A

On October 22, 2004, President Bush signed into law H.R. 4520, the American Jobs Creation Act of 2004. The Act added Section 409A to the Internal Revenue Code. Among other sweeping changes, 409A affects nearly all arrangements that result in the deferral of compensation. Included in those arrangements are the following:

  • Deferred Compensation Plans and Arrangements
  • SERPs
  • Phantom Stock Plans and Arrangements
  • Stock Plans with Deferral Provisions
  • SAR Plans and Individual Awards
  • Rabbi Trusts with early pay-out triggers or off-shore funding
  • Any plan that includes an election to defer payments of benefits such as:
    • Stock Options or Restricted Stock Plans
    • Employment Arrangements
    • Severance Plans and Agreements
    • Change-in-Control

The consequences for failure to act are severe.

Greenhouse Financial, LLC specializes in creating and administering BOLI, COLI and non-qualified benefit plans. For help with your plan or to verify if you are affected by 409A, please contact Robert D. Green, CEO at 800-368-8041 or by email.