Employee Benefits Blog

Short-Term Deferral Day is Right Around the Corner

Section 409A, the provision of the Internal Revenue Code that regulates the time and form of payment of nonqualified deferred compensation, contains a helpful exception for “short-term deferrals.”  Specifically, Section 409A provides that a payment will not be considered nonqualified deferred compensation if the employer makes the payment on or prior to the 15th day […]

February 21, 2022 | 2 min read | Tagged: 409A, annual incentive, Code Section 409A, deadline, deferred compensation, Internal Revenue Code, IRC, March 15, short term deferral

GG

Greg Gautam Partner

Enjoy the End of the Decade with Some Employee Benefit Plan Checklists

Each year, we publish health and welfare, cost-of-living, qualified retirement plan, and executive compensation plan checklists to help individuals and employers stay apprised of updates to the law of employee benefits.  We just published the last of these annual checklists.  In case you missed them, the links are below. Happy Holidays! 2019 End of Year […]

December 19, 2019 | 1 min read | Tagged: checklists, COLA, cost-of-living, ERISA, Executive Compensation, Internal Revenue Code, qualified retirement plan, to do list

MC

Matthew P. Chiarello Partner

IRS Issues Updated Tax Notice for Qualified Retirement Plan Distributions

The Internal Revenue Service (“IRS”) recently released guidance that contains two updated safe harbor notices that retirement plans may use to satisfy the requirements of the Internal Revenue Code (the “Code”) to provide an advance notice to a participant prior to the date on which the participant receives a distribution that meets the requirements for […]

October 26, 2018 | 3 min read | Tagged: 402(f), Internal Revenue Code, IRS, model notice, Notice, safe harbor

AM

Anne M. Meyer Partner

Hardship Distribution Changes – Tax Reform May Have Unintended Consequences

When tax reform proposals were floating around in the fall of 2017, several early proposals to the Tax Cuts and Jobs Act (the “Act”) included changes to the hardship distribution rules for qualified retirement plans. However, the final version of the Act did not make any direct changes to hardship distributions.  Nevertheless, the Act, perhaps […]

February 19, 2018 | 2 min read | Tagged: casualty loss, hardship, hardship distributions, Internal Revenue Code, IRS, tax reform

KP

Kerry E. Parker Former Associate

Public Companies Should Consider Shareholder Reapproval of Section 162(m) Performance Compensation Plans Approved in 2012

As public companies continue to prepare for the 2017 proxy season, we wanted to provide a final reminder of an executive compensation related item that might require shareholder approval in 2017.  As reported in Part 1 of our End of Year Plan Sponsor “To Do” Lists, Section 162(m) of the Internal Revenue Code limits the […]

March 29, 2017 | 1 min read | Tagged: 132(m), Compensation Committee, Covered Employees, deduction, Internal Revenue Code, performance goals, shareholder, shareholder approval

GG

Greg Gautam Partner