On December 29, 2022, President Joe Biden signed into law the Consolidated Appropriations Act of 2023, which includes the SECURE 2.0 Act of 2022 (SECURE 2.0). SECURE 2.0 is an expansion of the Setting Every Community Up for...more
12/30/2022
/ 401k ,
Employee Benefits ,
Employees ,
Employer Contributions ,
EPCRS ,
Hardship Distributions ,
Joe Biden ,
Plan Participants ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
SECURE Act ,
Student Loans
Preface
The duties imposed on compensation committees of publicly traded companies have evolved and grown over time. This eighth edition of the Compensation Committee Handbook from the lawyers of the Executive...more
Transition relief for amending nonqualified deferred compensation (NQDC) plans to reflect the 2017 amendments to Section 162(m) of the Internal Revenue Code will expire on December 31, 2020. ...more
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law on March 27, 2020, providing financial assistance to individuals and businesses impacted by the COVID-19 pandemic, as previously discussed in our...more
3/31/2020
/ Airlines ,
CARES Act ,
Compensation Restrictions ,
Covered Employees ,
Critical Infrastructure Sectors ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Employee Benefits ,
Federal Loans ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Pensions ,
Retirement Plan ,
Self Employed ,
Tax Credits ,
Tax Deferral
The duties imposed on compensation committees of publicly traded companies have evolved and grown over time. The fifth edition of the Compensation Committee Handbook, authored by our Executive Compensation and Benefits Group,...more
12/11/2018
/ Acquisitions ,
Compensation Committee ,
Director Compensation ,
Employee Benefits ,
Employment Contract ,
Equity Compensation ,
Executive Compensation ,
Fiduciary Duty ,
Financial Adviser ,
Mergers ,
Nasdaq ,
NYSE ,
Proxy Advisory Firms ,
Publicly-Traded Companies ,
Section 16 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Stock Exchange ,
Taxation
On August 21, 2018, the Treasury Department and the Internal Revenue Service (IRS) issued Notice 2018-68, which provides eagerly awaited guidance for changes that were made to Section 162(m) of the Internal Revenue Code...more
8/23/2018
/ CEOs ,
CFOs ,
Compensation & Benefits ,
Covered Employees ,
Deferred Compensation ,
Employee Benefits ,
Employment Contract ,
Executive Compensation ,
Grandfathering Rules ,
Internal Revenue Code (IRC) ,
IRS ,
Pay-for-Performance ,
Proposed Guidance ,
Publicly-Traded Companies ,
Section 162(m) ,
Tax Cuts and Jobs Act ,
Vesting
On November 16, 2017, the House of Representatives voted to approve its version of the Tax Cuts and Jobs Act. The Senate is expected to vote on its version of the bill following the Thanksgiving break, which would require a...more
11/20/2017
/ 401k ,
Affordable Care Act ,
CEOs ,
CFOs ,
Corporate Counsel ,
Deferred Compensation ,
Employee Benefits ,
Executive Compensation ,
Fringe Benefits ,
Popular ,
Proposed Legislation ,
Publicly-Traded Companies ,
Retirement Plan ,
Section 162(m) ,
Severance Pay ,
Stock Options ,
Tax Reform ,
Trump Administration
If enacted, the newly proposed Tax Cuts and Jobs Act would effectively put an end to many of the most widely used forms of executive compensation:
- Deferred compensation and stock options would disappear.
- Use of...more
11/3/2017
/ Corporate Counsel ,
Deferred Compensation ,
Employee Benefits ,
Executive Compensation ,
Pay-for-Performance ,
Performance Incentives ,
Proposed Legislation ,
Retirement Plan ,
Severance Pay ,
Stock Options ,
Tax Cuts ,
Tax Reform ,
Trump Administration
Carve-out transactions can quickly become complicated by employment considerations — who stays, who goes and what practices govern the transitions. At the April 18, 2016, "Skadden Cross-Border M&A Conference 2016:...more
7/5/2016
/ Acquisitions ,
Carve Out Provisions ,
Collective Bargaining ,
Consent to Assignment ,
Cross-Border Transactions ,
Due Diligence ,
Employee Benefits ,
Employee Retention ,
Employment Contract ,
International Labor Laws ,
Mergers ,
Multiemployer Plan ,
Parent Corporation ,
Successors ,
Unions
In an unexpected development, on June 21, 2016, the IRS issued proposed regulations that clarify and modify the final regulations issued in 2007 and the proposed income inclusion regulations issued in 2008. In many cases,...more
7/5/2016
/ Beneficiaries ,
Death Benefits ,
Deferred Compensation ,
Employee Benefits ,
Executive Compensation ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Restricted Stocks ,
Section 409A ,
Severance Agreements ,
Vesting
On June 22, 2016, the IRS published much-anticipated proposed regulations under Internal Revenue Code Section 457 impacting certain plans maintained by state or local governments or other tax-exempt organizations that provide...more
6/27/2016
/ Deferred Compensation ,
Employee Benefits ,
Forfeiture ,
IRS ,
Non-Compete Agreements ,
Retirement Plan ,
Section 409A ,
Section 457(f) ,
Severance Agreements ,
State and Local Government ,
Tax Exempt Entities
On April 20, 2015, more than three years after withdrawing a similar proposal that was staunchly opposed by the financial services industry, the U.S. Department of Labor (DOL) published in the Federal Register a proposed...more
4/29/2015
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
Pension Funds ,
Prohibited Transactions
As the 2013 proxy season heads into its final weeks, we are continuing to monitor say-on-pay vote results and supplemental filing trends, as well as the most recent waves of proxy-related litigation, and have the following...more