We are happy to announced today that Spring has been issued U.S. Patent No. 8,676,686 for our Program for Alternative Funding of Employee and Retiree Benefits by the United States Patent and Trademark Office.
This patent marks the 5th that has been issued to Spring for our team’s trailblazing employee benefit funding strategies.
This most recent patent outlines Spring’s process for funding retiree benefits including pensions, defined contributions and other retirement programs through a partially, wholly or non-owned captive insurance company. The patent also outlines the process for terminating a pension plan, funding additional employee benefits through a captive and also the reinvestment of captive assets to generate additional assets.
The full patent can be found on the United States Patent and Trademark Office’s website here.
“Many of the other funding solutions for pensions are not as attractive as this solution,” commented Spring Managing Partner Karin Landry. “As companies move forward to minimize plan volatility or terminate their plans, we are excited that Spring is able to offer a very effective and innovative solution.”