Letter to Lance Wallach from Ford Motor benefits
Fri, 11 Jan 2008
Dear Mr. Wallach,
It as a pleasure speaking with you this afternoon. I appreciate the time you spent
listening and the giving of your advice.
Next week, we, a small splinter union (IAM) within a large Ford Motor facility, at
Cleveland Casting Plant will be negotiating our contract. This site is mostly represented by the UAW who have already consummated their contract with Ford Motor
Company, and has accepted the VEBA option for their retirees. Their VEBA will be run by the UAW and whoever they decide to confide in to execute the health care
benefit and the investments with the millions that Ford Motor will hand over to them, and then Ford will wash their hands of any more health care responsibilities.
Our I am negotiations start Jan. 14th. The small group of individuals that will be across the table from the experts representing Ford Motor, are comprised of a few
elected people that are Pattern Maker/Machinist by trade. We have no one of any particular expertise in finance, healthcare, or investment. We are expected to
come to terms with
little, to no knowledge or leverage of the task set before us. We have 1300 people's
lives that will be affected by these negotiations. It is a shame that the larger unions will not step up to the plate and help with the terms that we are faced with. Ford
Motor will use this to their advantage to squeeze a few more dollars out of our pockets.
Thank you again for your generous contribution of foresight and knowledge to the concerns facing the American workers in this globalistic battle for the bottom line.
Mark A. Gwynn
IAM Benefits Rep.
Cleveland Casting Plant
“Lance is a true expert on VEBA Plans. Five years ago, he took the call of a total stranger, and in doing so, he spent an hour helping me solve my client's problem. During the past five years Lance consistently proven to be a valuable resource for me and my practice. He is a warm open person who is willing to invest in others success.”
Don Atherton, CEBS, CFP, CLU, Owner, Integrated Benefits Solutions, Inc.
“Lance is perhaps the country's foremost expert at establishing various kinds of
employee benefit programs for companies and individuals and also highly knowledgeable about the programs that do not meet the legal requirements of the Internal Revenue Service.
He is a well known author, has spoken at numerous meetings attended by financial services practitioners and is the professional you want on your side when the IRS comes calling.”
“Lance is a wonderful resource not just in regards to VEBAs, 412's, abusive plans and IRS codes, but also who and what he knows about certain broker-dealers.
I called him about recent changes to 412, and got on the subject of broker-dealers, and he lent so much of his time to inform me about making the right choice. He is
a really great, personable colleague to people working in the financial services business.”
Resident Insurance Producer, Independent Consulting
“I have relied on Lance's valuable expertise on several occasions in assisting my clients with Veba's (419 plans). Lance is definitely the person to help properly structure 412i and 419 plans and fix plans that were improperly set-up.”
Owner, Wealth Creation Strategie
..."Thank you for providing me with this information. I will review it next week and I'm sure we will be in touch. I very much appreciate your help.
Amanda J. Andrews
Associate Counsel, Legal Division Arkansas Insurance Department
..."Mr. Wallach, thanks so much for taking the time to talk to me ..today about VEBAs.Any information you can send me would be helpful. Hopefully, we can work together in the future as interest in VEBAs increase."
Corman G. Franklin
Office of the Assistant Secretary for Policy U.S. Department of Labor
National Society of Accountants Speaker of the Year and a member of the AICPA faculty of teaching professionals, Wallach is a frequent speaker on retirement plans, financial and estate planning, and abusive tax shelters. He is also a featured writer and has been interviewed on television and financial talk shows including NBC, National Public Radio's All Things Considered and others, Lance authored Protecting Clients from Fraud, Incompetence, and Scams published by John Wiley and Sons, Bisk Education's CPA's Guide to Life Insurance and Federal Estate and Gift Taxation, as well as AICPA best-selling books.
He has authored numerous books, including The Team Approach to Tax, Financial and Estate Planning by the AICPA and Wealth Preservation Planning by the National Society of Accountants. His newest books are CPA’s Guide to Life Insurance and CPA’s Guide to Federal and Estate Gift Taxation, published by Bisk CPEasy, and Protecting Clients from Fraud, Incompetence, and Scams, published by John Wiley & Sons, Incorporated. Mr. Wallach writes for over fifty publications, including AICPA Planner, Accounting Today, CPA Journal, Enrolled Agents Journal, Financial Planning, Registered Representative, Tax Practitioners Journal, CPA/Law Forum, Employee Benefit News, Health Underwriter, Advisor and the American Medical Association News. Mr. Wallach is listed in Who’s Who in Finance and Industry and has been featured on television and radio financial talk shows. Avoiding Circular 230 Malpractice Trap.
Published by John Wiley & Sons
“Lance is extraordinarily intelligent. He has few peers, if any, in his area of expertise. I unhesitatingly recommend Lance.”
June 3, 2009
Gary Lesser, Owner, GSL Galactic Consulting
“Lance is a pleasure to work with, very knowledgeable.”
February 4, 2008
Paul Rosen, President, Paul J Rosen Financial Services Inc.
National Offices of Lance Wallach
“Lance is an expert in little known tax reduction techniques for profitable business owners.”
February 4, 2008
Matthew Tuttle, Owner, Tuttle Wealth Mgmt, LLC
“Since first calling Lance, he has taught me more about all aspects of insurance, income tax nuances, and relatively unknown welfare benefit plans than I had
learned in the years spent with other well-regarded experts who had been in the same field for over 30 years.
As a result, when Lance becomes a consultant to any company or individual they not only get the benefit of his immense knowledge, but they receive the knowledge
of experts in any area of finance that will benefit the client. Lance will never say, "I don't know too much about that." Instead he will say, "Let me put you in touch with
an expert who is knows more about that than anyone in the country." And he means it.
I have yet to hear of anyone that has been disappointed for calling upon Lance Wallach for advice or assistance. He is truly at the top of his field.
Michael N. Kessler, M.D., M.A.
President, K & L Agency, LLC
February 24, 2008
Michael Kessler, Owner, K & L Agency, LLC
“Lance has been recognized by many organizations for his expertise as a speaker and writer on employee benefit plans and other tax topics. You can't go wrong hiring him as a speaker or, if you want to learn how you can participate in one of Lance's frequent book projects, he offers an easy way to get yourself published for the first time so you can get a book in front of prospective clients and/or professional colleagues.”
June 11, 2008
David Drucker, Principal, Virtual Office News LLC
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