Scams & schemes involving Internal Revenue Code Section 412(i) pension plan fraud have taken many business owners by surprise. Told by insurance companies that contributions to their employee retirement plans could be up to ten times more than a traditional plan, and that withdrawing up to 80% of funds could be done on a pre-tax basis, business owners say that they were taken – all for big insurance company commissions.
What are 412(i) pension plans?
Section 412(i) of the Internal Revenue Code essentially says that you can have a pension plan funded only with guaranteed life insurance or guaranteed annuity products, according to
Read more: http://employment-law.freeadvice.com/employment-law/pensions_benefits/412-i-pension-plan-fraud.htm#ixzz34QP4k8iZ
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