BOLI

(redirected from Bank-Owned Life Insurance)
AcronymDefinition
BOLIBureau of Labor and Industries
BOLIBank-Owned Life Insurance
BOLIBarcode of Life Initiative (est. 2003)
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References in periodicals archive ?
Co-produced by Equias Alliance and Michael White Associates LLC (MWA), the Equias Alliance / Michael White Bank-Owned Life Insurance (BOLI) Holdings Report measures and benchmarks the cash surrender values (CSV) of life insurance and ratios of CSV to capital attained by commercial banks, savings banks, and savings associations (the "banks").
To support banks with executive benefit plan design, administration and funding, Equias Alliance was selected as the provider of the ABA-endorsed Executive Benefits Consulting and Bank-Owned Life Insurance program, helping banks restore existing retirement program shortfalls and offset the costs of medical, group life and other ERISA benefits.
Maxwell, Bank-Owned Life Insurance: Risks, Rewards, and Other Considerations, SRC INSIGHTS (Fed.
The agencies issued the guidance because they were concerned that some institutions may not have an adequate understanding of the risks associated with bank-owned life insurance (BOLI), including liquidity, operational, reputational, and compliance or legal risks.
[When the companies are banks, the policies are called bank-owned life insurance (BOLI).] The articles noted that companies buy life insurance on thousands of present employees, former employees, and retirees.
and the Office of Thrift Supervision jointly issued the Interagency Advisory on Accounting for Deferred Compensation Agreements and Bank-Owned Life Insurance. Financial institutions often use deferred compensation instruments to remunerate and retain executives (www.occ.treas.gov/ftp/bulletin/ 2004-10a.pdf) but sometimes account for them incorrectly.
Other significant events during the quarter included the Company surrendering $32.8 million of under-performing bank-owned life insurance ("BOLI") policy value, resulting in a $2.4 million negative impact to the provision for income taxes.
This will make Newport the largest administrator of bank-owned life insurance and corporate-owned life insurance in the nation.
Scanlon previously served as managing partner at MCB Solutions LLC, focused on consulting for bank-owned life insurance (BOLI) and COLI transactions.
Last, but certainly not least, among the incidents is Stuart's tapping of the bank-owned life insurance and other life insurance assigned to One Bank for cash.
"Talk to a Retirement Specialist" covers a wide scope of key retirement plan design and technical issues for plan sponsors and plan advisers, including: defined benefit (DB), defined contribution (DC) and executive benefit plan design; fiduciary governance; multiple employer plans; nondiscrimination testing; retirement planning essentials; and bank-owned life insurance (BOLI).