NSC selects firm to market executive retirement plan
ARLINGTON, Va. - NAFCU Services Corp. (NSC), a wholly-owned subsidiary of NAFCU has selected BENMARK, one of the leading benefits consultants to financial services institutions, to be the exclusive provider of the company's Credit Union Executive Retirement Plan (CUERP) which NSC introduced in July 2000. CUERP was designed by NSC and Nations Insurance of San Diego, to provide retirement benefits to credit union executives. The program is the first of its kind that's designed to accommodate regulations set forth in IRS Section 457(f), which governs a non-profit organization's ability to offer executive compensation. CUERP provides nonqualified benefits which make up the gap between qualified benefits like 401(k)s and the income levels executives determine they need to maintain their lifestyles after they retire. NSC's marketing agreement with BENMARK is effective immediately.