CLG has prepared a brochure on what is in store for Employee Benefits for 2016.  Want to obtain a copy, click here.  If you have any questions after reviewing the brochure, give us a call at the agency. 

Valentine’s Day is a special day – a day when flowers, candy, and jewelry are freely given to celebrate “love”.  If you are either giving or receiving jewelry, we want you to protect this keepsake with proper coverage either by adding it to your homeowners or your personal floater.

 Enjoy the day and should you need us to add to your policy or purchase a policy, please give us a call.

Further analysis to come, but the IRS just released Notice 2016-4, which extends the deadlines for 2015 information reporting under Code Sections 6055 and 6056 (IRS Forms 1094/1095).  The deadline for providing 1095-C (and 1095-B) statements to individuals is extended from February 1, 2016 to March 31, 2016.  The deadline to file 1094-C (or 1094-B) transmittals with the IRS is extended from February 29, 2016 to May 31, 2016 (for non e-filers) and from March 31, 2016 to June 30, 2016 (for e-filers). 

The official text of Notice 2016-4 can be found by clicking here:

 

The IRS reminded employers, insurance providers and other entities that provide 1095-ccoverage under the Affordable Care Act of their reporting obligations under the ACA and the 2016 deadlines for submitting those reports. The ACA requires an "applicable large employer," or ALE, which means a company with 50 or more full-time employees or full-time-equivalent employees, to provide coverage information to their employees and to the IRS.

For details, click here:

CLG Insurance has adopted three families in need and were able to purchase everything on their Christmas lists and then some. The non-profit that we worked with is "People to People of Rockland County."

October is Cyber Security Awareness Month - Find out more about cyber liability and how this blanket of coverage can protect your business. Call us for more details.

You might be surprised to find out that for as little as 40 cents/day or $13/month you can purchase a $250,000 term policy for a 30-year old.

During Life Insurance Awareness Month, we want to present this valuable product to protect your family and your businesses.

Call us today to find out how inexpensive this policy can be and how priceless it is as a part of your insurance portfolio.

As the economy improves, employee talent is at a premium. Most owners of closely-held businesses rely on a select group of employees or executives to manage important aspects of the day-to-day operations and growth of the company. Despite their importance to the company, these key employees typically participate in the same general group benefit and retirement programs as the other members of the company's workforce. There may be options for your company to help prevent the turnover of executive talent that is often present in the absence of an executive carve-out plan designed to retain a particular employee or group of employees.

The simplest of these is a Section 162 Bonus Plan. In this type of plan, the employer will provide a combination of life insurance protection and cash-value accumulation to an employee on an annual or more frequent basis. In some situations, the employer may retain a portion of the death benefit as "key person" insurance, while the continued contributions to the policy's account value serve as a bonus in which the employee is immediately vested. 

Those employers wishing to retain employees for a long-term period may choose to setup a non-qualified deferred compensation agreement under Section 409A of the Internal Revenue Code. The executive must remain with the company for a number of years (to be determined at the employer's discretion) in order to vest in a benefit down the road. There are many ways to structure the program, often tied to employee performance. Further, vesting restrictions may be included in the plan. These restrictions require the executive to stay with the company for several years post-sale of the entity to a competitor or death or disability of the key principal in order to vest in the benefit. 

If you’re interested in hearing more about these employee retention tools, please don’t hesitate to contact us.

Join over 5 million citizens across the United States to prepare you, your family, your business, and your community for disasters.

Through FEMA and the Ready.Gov website, you can log here (http://www.community.fema.gov/connect.ti/AmericasPrepareathon) to participate.  From knowing hazards, to registering for activities, to spreading the word, you have the resources to help you.

So register today and be prepared for Earthquakes, Flood, Hurricanes, Tornados, Wild Fires, and Winter Storms.  Each represents a unique challenge that you need to be ready for.

If you gave valuable items during the holidays or are planning on doing so for Valentine's Day, make sure these keepsakes are adequately protected. You can either add this to your existing policy or purchase a new one. Give us a call for more information.

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