INSCOR, Inc. Develops Low-Cost Funding Solution for Government's Trillion Dollar Problem
20 Marzo 2013 - 6:30AM
Marketwired
INSCOR, Inc. (PINKSHEETS: IOGA) is pleased to announce it has
redesigned its business model to capitalize on the financial
opportunities that exist with Financed Insurance Trust OPEB plans
inside municipalities and corporations. FIT OPEB plans are a
customizable retirement benefits solution developed by INSCOR in
collaboration with attorneys, actuaries and financial institutions.
The plan provides governments and corporations with a low-cost,
highly-efficient option for the management and funding of their
Other Post-Employment Benefits (OPEB) costs. These type benefits
can include retiree healthcare, dental, and life insurance.
As cash-strapped governments scramble to find OPEB funding
solutions, the typical options available are to cut benefits, cut
programs and projects, and/or issue bonds or raise taxes. These
unfunded costs now demand attention with the implementation of new
accounting rules (GASB 45) from the Governmental Accounting
Standards Board. Studies reveal there are over $1.5 trillion in
unfunded OPEB liabilities existing among states and
municipalities.
A FIT OPEB plan takes a different approach: purchasing
specifically designed life insurance on active employees using
funds borrowed from the financial sector or bond issuance and
secured by the insurance policies themselves. The program functions
by utilizing the arbitrage between the borrowing rate and the rate
of return on the policy.
The plan is modeled to provide an income stream from policy
proceeds based on predictable employee mortality and yearly
withdrawals from policy cash values. As a result, a FIT OPEB plan
can provide a cash stream to support each year's OPEB obligations,
plus fund future OPEB liabilities with little or no spending
increases, tax increases or reduction in benefits.
INSCOR received a very positive reaction from the industry when
it launched the program in beta form and now plans to ramp up
operations to commence offering FIT OPEB programs across the
country commencing Q2 of 2013.
About INSCOR, Inc.
INSCOR specializes in educating and marketing the FIT OPEB plan
to municipalities and corporations as a low-cost solution to
funding retiree and other employee benefits. A FIT plan variation
also works for affluent individuals, entertainers and professional
athletes -- whether for estate planning or funding cash flow needs.
INSCOR's "FIT" (Financed Insurance Trust) strategy uses a
combination of favorable financing terms, innovative uses of
specific life insurance products and trusts -- all of which result
in minimum levels of out-of-pocket costs for producing significant
future funding and revenue stream opportunities.
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Contact: Richard Doerr CEO 702-248-6901
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