DavidKing Posted April 20, 2007 Share Posted April 20, 2007 It has come to my attention that there may a snag in landing Rick Majerus. Go to www.presstelegram.com/sports/ci_5709802. Below is part of the article: When the Long Beach job opened, he became intrigued, and made contact with Vic Cegles through a mutual friend. -------------------------------------------------------------------------------- Advertisement -------------------------------------------------------------------------------- The two men met and talked often, and it appeared for a time that Majerus was destined for Long Beach. But this is a man who has been battling a serious weight problem and has had several heart attacks, and was given a lifetime insurance policy while at Utah that might have been canceled - he won't be vested in it until next year - had he accepted the 49er position. That proved to be the decisive factor in his reluctantly deciding not to come to Long Beach, even though he told both Cegles and Alexander that he badly wanted to. Is he vested yet? One thought: Maybe RM is interested in St. Louis partly because of the city's hospital's reputation as a world leader in cardiac care. Quote Link to comment Share on other sites More sharing options...
alameda bob Posted April 20, 2007 Share Posted April 20, 2007 After a lifetime in the life insurance business, I don't know what the writer means about being vested in a life policy. Vested usually refers to pensions. So this makes no sense to me. It does give me pause that if he has a policy the Utes bought on him, he wants to keep it in force now. He looks and sounds pretty uninsurable. But there are lots of creative ways an existing policies ownership can be transferred for a price. I loved the quotes attributed to him from his time in SLC. I'm heading there tomorrow to visit relatives, I hope by the time I return he is on board. Then we can bring back the original rotund mascot, who I have always preferred to the one in the tux we have now. Quote Link to comment Share on other sites More sharing options...
CAG Posted April 20, 2007 Share Posted April 20, 2007 Actually an employer can place a REBA on an insurance policy creating a vesting schedule on a policy. A REBA stands for Restricted Endorsement Bonus Arrangement. It gives the employer "golden handcuffs" over their employee. CAG Quote Link to comment Share on other sites More sharing options...
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