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Deferred Compensation › Employee Benefits › Department of Labor (DOL)

Deferred Compensation is a financial arrangement whereby a portion of an employee's current wages are distributed at a later time, usually to delay tax liability. Deferred compensation often takes the form of... more +
Deferred Compensation is a financial arrangement whereby a portion of an employee's current wages are distributed at a later time, usually to delay tax liability. Deferred compensation often takes the form of stock options or severance payments.  less -
Verrill

How many participants is too many for a top hat plan?

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A client recently reviewed a census of participants in its deferred compensation plan and found that the covered group amounted to nearly 15% of its total workforce. Mindful of the need to limit the number of participants in...more

Verrill

Order of Benefit Deductions from Employee Pay

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From time to time we field questions about the order in which deductions for various employee benefits (e.g., 401(k) plan elective deferrals and insurance premiums for welfare benefit plan benefits) should be taken from an...more

Perkins Coie

Employee Benefit Plan Developments—2020 Year in Review

Perkins Coie on

Employee benefits professionals have faced many challenges in 2020. We have seen remarkable changes to state and local requirements, an onslaught of new benefits legislation and governmental policies, shifting reporting and...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL Relief for Late Salary Deferral Deposits

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

As a result of the Coronavirus pandemic, I have consistently said that plan sponsors still have their fiduciary duties to fulfill in terms of their sponsorship of the plan and their deposit of salary deferrals as soon as...more

Dickinson Wright

Debunking SPD Myths, Part 5: Yes, There Are Reporting Requirements for “Top Hat” Plans

Dickinson Wright on

It is well known by employers that nonqualified deferred compensation (“NQDC”) plans that are established to provide unfunded deferred compensation benefits to a select group of management or highly compensated employees...more

Verrill

Handling Missing Participants under Code Section 409A

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Deferred compensation payments are due to one of your former executives, but the former executive is nowhere to be found. You know that the IRS has strict timing rules for payments subject to Code Section 409A (but maybe not...more

Verrill

New Disability Claims Procedures Affect Retirement Plans and Deferred Compensation Plans Too

Verrill on

Much has been written about the Department of Labor’s final rule regarding disability benefit claims procedures (the “Final Rule”), which took effect on April 2, 2018. And by now, most employers – and all disability insurance...more

Bass, Berry & Sims PLC

Action Needed by Certain ERISA Plans – New Disability Claims Procedures Apply Beginning April 2018

Bass, Berry & Sims PLC on

In January 2018, the U.S. Department of Labor (DOL) announced that final regulations affecting how some ERISA plans process claims and appeals will apply beginning April 1, 2018. As explained below, the final regulations...more

Proskauer Rose LLP

ERISA Newsletter - Fourth Quarter 2017

Proskauer Rose LLP on

Editor's Overview - For over two decades, federal law has required covered health plans and insurers to ensure that certain mental health benefits are in parity with offered medical/surgical benefits. The meaning of...more

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