Internal Revenue Code Section 409A imposes substantial restrictions on all forms of deferred compensation. In 2008,
employers had to amend nonqualified deferred compensation plans, employment agreements, severance agreements
and any other agreement that was affected by Code Section 409A in order to comply with the new law. As explained in this alert by Ober|Kaler's Terrence M. Finn, the Internal Revenue Service (IRS) recently gave employers a chance to revisit their plans and agreements covered by Code Section 409A in order to avoid the penalties for noncompliance.
Please see full publication below for more information.
