Page 297 - Bruce Ellig - The Complete Guide to Executive Compensation (2007)

Chapter 6. Employee Benefits and Perquisites 283

Age Premium Age Premium

18 $1.52 50 $9.22
19 1.56 51 9.97
20 1.61 52 10.79
21 1.67 53 11.69
22 1.73 54 12.67
23 1.79 55 13.74
24 1.86 56 14.91
25 1.93 57 16.18
26 2.02 58 17.56
27 2.11 59 19.08
28 2.20 60 20.73
29 2.31 61 22.53
30 2.43 62 24.50
31 2.57 63 26.63
32 2.70 64 28.98
33 2.86 65 31.51
34 3.02 66 34.28
35 3.21 67 37.31
36 3.41 68 40.59
37 3.63 69 44.17
38 3.87 70 48.06
39 4.14 71 52.29
40 4.42 72 56.89
41 4.73 73 61.89
42 5.07 74 67.33
43 5.44 75 73.23
44 5.85 76 79.63
45 6.30 77 86.57
46 6.78 78 94.09
47 7.32 79 102.23
48 7.89 80 111.04
49 8.53 81 120.57

Table 6-14. PS 58 table: annual premium per $1,000 insurance
to the cumulative premiums paid by the company is assigned to it. It would appear this would
mean that the employer premiums are loans to the executive. Because loans are forbidden to
top executives under the 2002 Auditing, Accountability, Responsibility and Transparency Act
(also known as the Sarbanes-Oxley Act), it would suggest this type of plan may be in trouble.
These policies may be highly discriminatory in nature when determining eligibility and
amounts of insurance. Where the number of executives covered is few, they may be exempt
from reporting and disclosure regulations of ERISA (as a top-hot plan) other than for a