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Norcross, Ga., May 4, 2005/ Peachtree LBP Finance Company, an affiliate of Peachtree Settlement Funding, a national specialty factoring company, recently announced it has allocated an additional $50 million from its credit facilities to provide premium financing for its growing Leveraged Bonus Program (LBP). Peachtree's President, Tim Trankina, commented, "in response to the rapidly changing executive benefits marketplace, we have experienced significant interest in our LBP product. In light of the passage of IRC section 409A, companies are reconsidering the merit of traditional non-qualified arrangements. We expect to allocate an additional $50 - $75 million later this year".
LBP is an individually owned executive benefits program funded by life insurance. LBP is a deductible alternative to traditional executive benefit arrangements and is not subject to the new section 409A provisions. In addition, LBP represents a cost savings opportunity for companies while using leverage to extend benefits to participants.
About Peachtree LBP Finance Company
Peachtree LBP Finance Company is a provider of premium financing for the Leveraged Bonus Program (LBP) and is an affiliate of Peachtree Settlement Funding. Peachtree also administers LBP for all sponsors and participants. For further information about LBP, please visit our website at www.lbpaccess.com or call us at 1-866-LBP-5532.
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