Deferred Compensation News and Updates

Deferred Compensation News brings you the latest information and insights on 409A nonqualified deferred compensation; institutional COLI, BOLI, and ICOLI; tax-and cost-efficient non-COLI funding strategies; low-cost tax managed non-COLI asset/liability designs; executive benefits benchmarking; succession planning and timely issues of executive pay and benefits. Click here to read all recent articles related to the impact of the COVID-19 Pandemic.
Featured image for “Tom Chisholm Accepted into Forbes Business Council”
February 10, 2021

Tom Chisholm Accepted into Forbes Business Council

Leadership

For the 2nd consecutive year, Tom Chisholm, Senior Vice President Retirement, Fulcrum Partners has been accepted as a member of Forbes Business Council.
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December 21, 2020

Fulcrum Partners Steps Up: Leading Best by Serving First

Leadership

Fulcrum Partners Managing Director Monte Harrick has stepped up to ensure that a young group of dedicated high school basketballers don’t lose their varsity season to the disruptions of the COVID-19 pandemic.
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October 12, 2020

Financial Literacy Challenges Too Many Americans

Leadership

Last week the National Financial Educators Council (NFEC) announced the results of its most recent financial literacy survey. When faced with a financial challenge, nearly 40 percent of Americans ask their parents, family, friends, or coworkers for guidance.
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November 11, 2019

Honoring America’s Service Men and Women

Leadership

No excerpt
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Featured image for “Coach Harrick Will Tell You: Retirement Means Living Life on Your Own Terms”
April 04, 2019

Coach Harrick Will Tell You: Retirement Means Living Life on Your Own Terms

Leadership

For a man that loves the game of basketball, you might think that thirty-plus years of college coaching, taking Division I college teams to the NCAA tournament 16 times, and winning it all by leading UCLA to the National Championship in 1995 would be enough. You might think Coach Jim Harrick would look back on his many legendary accomplishments and say, “I am going to relax and maybe play a little golf in my retirement.” On July 25, Jim Harrick will be 81 years old. While he does get on the golf course regularly, he’s also wrapping up his first season  as an Assistant Coach of the Cal State University Northridge men’s basketball team. This past year, the CSUN Matadors, in rebuilding mode, finished with 13 wins, more than twice the number they had in the previous season. They logged victories over Pepperdine, Tennessee State, Rider and took Yale to overtime before losing 94-90. And next year, under head coach Mark Gottfried and assistants Jeff Dunlap, Mo Williams, and Jim Harrick, they’ve set their sights on even greater accomplishments as they focus on the team’s continued growth as a program and the personal development of each student athlete. At nearly
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April 03, 2019

Congratulations AALU on Doubling Membership

Leadership

Earlier this month, the American Association of Life Underwriters (AALU) announced that by reaching a membership level of more than 4,000 entrepreneurial financial security professionals, the association has now doubled its membership. Many of the managing directors at Fulcrum Partners are members of AALU and we are proud to share AALU’s recent announcement. AALU Doubles Membership Washington, D.C. – AALU today announced that it has doubled the size of its membership of entrepreneurial financial security professionals. Now more than 4,000 members strong, this is the most significant membership development in AALU’s history. Accomplished through a new membership category, Enterprise Membership, this is a tremendous step forward in executing the new strategic plan developed by the AALU leadership team in collaboration with the organization’s Board of Directors. Enterprise membership is designed to engage every licensed professional and their supporting team members from every firm. M Financial is the first to adopt Enterprise Membership with AALU. “When we grow the number of engaged financial security professionals across the life insurance distribution community, we will create a stronger organization that can produce better public policy outcomes,” said AALU CEO Marc Cadin. “Today’s announcement is a key step toward ensuring the reputation of the profession better reflects
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Featured image for “Generational Workforce Challenges, No You’re Not Imagining Them”
March 21, 2019

Generational Workforce Challenges, No You’re Not Imagining Them

Leadership

Fulcrum Partners is pleased to share this article from Donna Bernardi Paul, managing director of BDO’s Business Services & Outsourcing practice. How to Address Generational Workforce Challenges By Donna Bernardi Paul Are differences in work and communication styles in the workplace among the different generations the cause of leadership or supervisory challenges—or is it something else? There have been a plethora of articles, seminars, webinars and discussions around millennials in the workplace and the challenges of managing and working with them due to their different work styles. When we talk about the importance of differences in the workplace, sometimes we forget about one of the most prominent dimensions—age. There are three main generations in our workforce currently, and we are on the brink of adding a fourth. Understanding how to relate to each is critical to successfully keeping them motivated and engaged in their work. The Baby Boomers: Born between the end of World War II and the early 1960s, Baby Boomers are also known as the “Me Generation.” They grew up with television. Mothers were typically at home, waiting for their children to come home from school, and children were allowed outside of their homes unsupervised. Their relationships with their parents,
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March 19, 2019

Congratulations SRP, Awarded Fiduciary Excellence Certification

Leadership

Strategic Retirement Partners has been honored with a Certification of Fiduciary Excellence. The award, presented by the Centre for Fiduciary Excellence (CEFEX), honors demonstrated adherence to fiduciary best practices. As part of the award process, Strategic Retirement Partners was subject to a rigorous, multi-month audit and certification protocol, guided by the “Prudent Practices® for Investment Advisors”, an industry-recognized handbook that is grounded in law, regulation and professional best practices. “Strategic Retirement Partners applied for CEFEX to verify our practice is trustworthy and transparent,” said Jeffrey Cullen, Managing Partner and Managing Director, Great Lakes of Strategic Retirement Partners. “Receiving the CEFEX certification, we uphold the global fiduciary standard. We embrace an orderly and efficient process, so we are positioned to help our clients make better business and financial decisions.” CEFEX certification standards are substantiated by legislation, case law and regulatory opinion letters from the Employee Retirement Income Security Act (ERISA), the Investment Advisers Act of 1940, the Uniform Prudent Investor Act (UPIA), the Uniform Prudent Management of Institutional Funds Act (UPMIFA) and the Uniform Management of Public Employee Retirement Systems Act (UMPERSA) in the U.S. A full copy of the standard can be downloaded from CEFEX at cefex.org and a summary
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March 15, 2019

#ICYMI Leadership Lessons from College Hoops

Leadership

Planning a weekend of college basketball? We’re reposting an “In Case You Missed It #ICYMI” story that appeared last week on Deferred Compensation News. Thank you Monte Harrick, Managing Director Fulcrum Partners and son of legendary Jim Harrick, for sharing this memory… It’s March…let the Madness Begin! Well, it’s March…and that only means one thing in my household…it’s March Madness. One of the most iconic moments in NCAA Basketball Tournament history was in 1995 when Tyus Edney of UCLA sprinted full court thru the Missouri defense in 4.8 seconds to win the game and help UCLA advance to its 11th National Championship. There are some leadership lessons to be learned in those few seconds that hinged on the greatness of victory or the tragedy of an early exit from the tournament and perhaps the future of their coach, Jim Harrick. You see, a year earlier, UCLA was upset in the first round by Tulsa and Harrick, in his sixth season as coach, took a beating in the press and media in Los Angeles about his ability to lead the program to a championship. Two years earlier, UCLA was playing number one seed Michigan and the “Fab Five” in the second round of the NCAA
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March 06, 2019

A Lesson in Leadership

Leadership

Sharing this timely leadership story from Fulcrum Partners Managing Director, Monte Harrick. It’s March…let the Madness Begin! Well, it’s March…and that only means one thing in my household…it’s March Madness. One of the most iconic moments in NCAA Basketball Tournament history was in 1995 when Tyus Edney of UCLA sprinted full court thru the Missouri defense in 4.8 seconds to win the game and help UCLA advance to its 11th National Championship. There are some leadership lessons to be learned in those few seconds that hinged on the greatness of victory or the tragedy of an early exit from the tournament and perhaps the future of their coach, Jim Harrick. You see, a year earlier, UCLA was upset in the first round by Tulsa and Harrick, in his sixth season as coach, took a beating in the press and media in Los Angeles about his ability to lead the program to a championship. Two years earlier, UCLA was playing number one seed Michigan and the “Fab Five” in the second round of the NCAA Tournament. UCLA had played great. They tied the game with 5 seconds left and when Michigan inbounded the ball, Edney stole it. He drove to the basket and had about an eight-foot shot,
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