Benefit Liability Management 101



Benefit Liability Management 101

August 2018

Benefit Liability Management isn’t a new concept in the credit union industry, yet many are unsure of what it means.

Sometimes called Benefits Pre-funding, it is simply purchasing an otherwise impermissible investment to offset employee benefit expenses. Before implementing benefit liability management, several key questions must be considered. While there is no right or wrong answer, it’s important to note that each credit union must carefully decide what’s appropriate for their particular situation and their membership.

This webinar provides and overview of Benefit Liability Management and explores five key questions to consider before implementation.

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Expert Presenter

Kraig Klinkhammer, Chief Operating Officer, Executive Benefits

Kraig Klinkhammer has 20 years of experience in executive benefits, asset management, and various applications of life insurance and financial planning. As Gallagher Executive Benefits’ chief operating officer, Kraig ensures our clients’ benefit and investment programs run smoothly, from design to ongoing service. He sets the pace for staff goals, development training, and forward-looking corporate initiatives. Kraig also manages our investment and portfolio strategy, working closely with asset management firms, life insurance companies, and other financial service organizations to ensure clients have access to a wide variety of compliant solutions.

Prior to joining Gallagher Executive Benefits, Kraig serves as manager of the bank-owned insurance portfolio for a large regional bank where he was responsible for the oversight of insurance investments exceeding $5 billion. In this role, he was also responsible for budgets, forecasted revenue/expenses, cash flow management, P&L impact, Sarbanes-Oxley/GAAP compliance and financial account procedures.

Kraig earned his Master of Science in Financial Analysis and Bachelor of Science in Finance-Law from Portland State University in Oregon. He holds an insurance license as well as FINRA series 7, 63, and 65 licenses. Kraig lives outside of Portland, Oregon, where he and his family enjoy exploring the coastline and new local restaurants.

Expert Presenter

Jennifer Jackson, Area Vice President, Relationship Management

Jennifer Jackson has more than 15 years of experience in the financial services industry, specializing in the design and implementation of executive benefit plans. Throughout her career, she has held several roles related to executive benefit plans for banks and credit unions which gives her a unique perspective in overseeing her client plans. Her expertise includes regulatory compliance, financial analysis, and retention strategies. In her current role, Jennifer is responsible for the design and servicing of nonqualified retirement programs for Gallagher Executive Benefits’ clients throughout the Northeast and Mid-Atlantic states.

Jennifer’s commitment to the credit union mission of people helping people is reflected in her work as a board member of the BFB Foundation, an organization that provides educational opportunities to women in developing countries. She frequently travels to Guatemala to implement community learnings programs.

Jennifer earned her Bachelor of Arts in Mathematics from Converse College in Spartanburg, South Carolina. She also holds a life insurance license. Jennifer is based in Charlotte, North Carolina with her furry pack Mitzi, Max, and Stevie.