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Click ‘Get Form’ to open the Rabbi Engagement Agreement in the editor.
Begin by entering the date of the agreement at the top of the form, ensuring it corresponds with the Hebrew date.
Fill in the names and addresses of both the Synagogue and Rabbi in their respective fields.
In Section I, confirm the appointment details by reviewing and adjusting any terms as necessary.
Proceed to Section II to outline the Rabbi's duties. You can refer to Exhibit A for specific responsibilities and ensure all relevant tasks are included.
Complete Sections III through VI by entering compensation details, vacation days, and benefits applicable to the Rabbi.
Review termination clauses in Sections VII through IX, making sure they align with your expectations before finalizing.
Once all sections are filled out accurately, save your changes and proceed to sign electronically using our platform’s signature feature.
Start filling out your Rabbi Engagement Agreement today for free on our platform!
Potential Drawbacks Despite their advantages, rabbi trusts also come with certain risks and limitations. One major drawback is the lack of protection from creditors. If the employer faces financial difficulties, trust assets may be used to satisfy creditor claims. Another concern is employer control over funding.
Who owns assets in a rabbi trust?
You cant take early withdrawals, including a loan or hardship. Distributions from the Rabbi Trust cant be rolled over to another qualified retirement account such as an IRA.
What are the disadvantages of a rabbi trust?
A rabbi trust is a special type of grantor trust that is created by a company and provides a non-qualified employee benefit. Despite its name, it is not limited to use by rabbis. The name derives from the fact that the first known trust of this type was created by a congregation to benefit their rabbi.
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