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PCPS ANNOUNCES NEW RETIREMENT PLAN FOR MEMBERS
The Private Companies Practice Section (PCPS) of the AICPA has announced that in 1997, a new retirement benefits product from ITT Hartford is being offered to member firms. This program was designed by ITT Hartford and Financial Resources Network of Woburn, MA. The product, a variable life insurance contract for nonqualified retirement plans has no agent commission or surrender charges. PCPS has negotiated a lower cost for member firms than would otherwise be available. ITT Hartford offers related services from providing free sample prototype documents for traditional nonqualified retirement planning to optional customized plans designed to meet individual firm needs.
Need for this product was demonstrated by a survey of PCPS member firms conducted by AOMAR and Financial Resources Network, which showed that while three quarters of the CPAs surveyed had some type of retirement plan, 29% were dissatisfied. Please note: Neither the AICPA nor the PCPS officially endorses this product.
Interested firms may contact Financial Resources Network at (800) 772-4047. *
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