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Welcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.Blog Contributors
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Salary Deferrals in the Time of COVID-19
As the saying goes, “drastic times call for drastic measures” and, from an economic standpoint, these are drastic times. To fight the battle to stay in business many employers are considering a wide range of alternatives, including employee furloughs, layoffs … Continue reading
Posted in Employee Benefits, Executive Compensation, Qualified Retirement Plans
| Tagged 409A, coronavirus, covid-19, deferred compensation, pandemic, salary deferral
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Updated Glass Lewis Proxy Voting Guidelines
I previously blogged about certain compensation related updates to ISS’ proxy voting guidelines for 2020. With proxy season in full swing, I wanted to highlight some important compensation related changes to the Glass Lewis 2020 voting guidelines, a full copy … Continue reading
Posted in Executive Compensation
| Tagged change in control, compensation, discretion, Glass Lewis, incetnvei plans, ISS, proxy, shareholder
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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. … Continue reading
Posted in Employee Benefits, Executive Compensation, Health & Welfare Plans, Health Care Reform, Qualified Retirement Plans
| Tagged checklists, COLA, cost-of-living, ERISA, Executive Compensation, Internal Revenue Code, qualified retirement plan, to do list
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The Ninth Circuit Reverses Itself and Enforces ERISA Mandatory Arbitration Clause
A three-judge panel of the Ninth Circuit recently decided that Charles Schwab Corp. can require a proposed class action to arbitrate its claim that Schwab breached its fiduciary duties by including Schwab-affiliated investment funds in the Plan, despite the funds’ … Continue reading
Posted in Employee Benefits, Executive Compensation, Qualified Retirement Plans
| Tagged arbitration, ERISA, Supreme Court
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DOL Finalizes Regulations Requiring Electronic Filing of Top Hat Statements
On June 17th the Department of Labor finalized a set of proposed regulations requiring that all “top hat” plan statements be filed with the Department electronically though this website. As brief background, a “top hat” statement is a one-time filing … Continue reading
Posted in Executive Compensation
| Tagged DOL, ERISA, non-qualified plan, top hat statement
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Director Compensation Update
I’ve written a number of articles and blogs about some sticky issues that can surface in the context of setting pay for public company non-employee directors (here, here, here, and here). On March 6th the parties to the In re … Continue reading
Posted in Employee Benefits, Executive Compensation
| Tagged business judgment rule, director equity awards, equity awards, Executive Compensation, Investors Bancorp
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Certain Information Statements for ISOs and ESPPs Due by January 31, 2019
As reported in Part 4 of our 2018 End of Year Plan Sponsor “To Do” List, Section 6039 of the Code requires employers to provide a written information statement to each employee or former employee and file information returns with … Continue reading
Posted in Employee Benefits, Executive Compensation
| Tagged 2019, deadline, Employee Stock Purchase Plan, ESPP, Incentive Stock Option, information returns, ISO, January 31, stock
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New IRS Guidance Throws a Pass to Certain Universities That Pay Coaches Compensation in Excess of $1,000,000
In Notice 2019-09 (“Notice”), the IRS provides relief from the new excise tax to certain colleges and universities that pay their “covered employees” more than $1 million per year or pay excess parachute payments. Specifically, the Notice provides that the … Continue reading
Posted in Employee Benefits, Executive Compensation
| Tagged Code Section 4960, limit, notice 2019-09, parachute, tax-exempt, tax-exempt organizations
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The 162(m) Transition Rule Guidance Has Arrived
On August 21, 2018, the IRS released Notice 2018-68 providing its initial guidance on the Tax Cuts and Jobs Act (Act) transition rule for changes under 162(m). Before the Act, 162(m) limited a public company’s tax deduction to $1,000,000 for … Continue reading
Posted in Employee Benefits, Executive Compensation
| Tagged 162(m), covered employee, Material Modification, notice 2018-68, tax cuts and jobs act, transition rule, written binding contract
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Settlement of Solak v. Barrett May Provide Additional Guidance on Setting Director Pay
I’ve stressed how important it is for public company executives and directors to stay apprised of developments in the director pay area, including developments/settlements of director pay lawsuits. Earlier this summer, the Delaware Chancery court approved a settlement of Solak … Continue reading
Posted in Employee Benefits, Executive Compensation
| Tagged award, Clovis, compensation, director, settlement, shareholder
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