News & Analysis as of

Deferred Compensation › Coronavirus/COVID-19

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 -
King & Spalding

Mobile Employees: Tax Issues to Consider in Remote Working Policies

King & Spalding on

As the U.S. transitions from the acute phase of COVID-19, the lasting impact of changes ushered in by the pandemic is becoming clear, most notably the shift toward remote work. While no longer a necessity, remote work remains...more

Farrell Fritz, P.C.

Leaving New York? Plan For The Taxation Of Deferred Compensation

Farrell Fritz, P.C. on

Into the Fire- Let’s play a game of “Guess Who?” Here are the clues: •the legislature has called for an investigation into his mishandling of the crisis brought on by the pandemic, •he has stated that he doesn’t...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

Snell & Wilmer

2020 End of Year Plan Sponsor “To Do” List (Part 3) - Executive Compensation

Snell & Wilmer on

As 2020 comes to an end, we are happy to present our traditional End of Year Plan Sponsor “To Do” Lists. We are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered year-end health and...more

Groom Law Group, Chartered

Possible Options for Participant Relief Under Section 409A Plans in the Time of Coronavirus

Groom Law Group, Chartered on

The coronavirus pandemic has caused widespread economic uncertainty and unanticipated liquidity issues for a wide range of individuals, including plan participants of nonqualified deferred compensation plans. In these...more

Sullivan & Worcester

Mid-Year Retirement Benefits Update

Sullivan & Worcester on

The Internal Revenue Service has been busy issuing guidance over the last month or so on various retirement benefit issues. We want to be sure you are aware of these important updates. Retirement plan and IRA liquidity...more

Snell & Wilmer

COVID-19 Related Cancellations of NQDC Elections

Snell & Wilmer on

As a general matter, deferral elections under non-qualified deferred compensation plans (“NQDCs”) cannot be cancelled unless a NQDC plan participant incurs an “unforeseeable emergency” or “disability” as each such term is...more

Lowenstein Sandler LLP

IRS Issues CARES Act Guidance for Coronavirus-Related Distributions and Loans From Tax-Qualified Plans; Also Allows Cancellation...

Lowenstein Sandler LLP on

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides sponsors of 401(k) and other tax-qualified retirement plans with tools to give their employees who are affected by COVID-19 greater access to their...more

Foley & Lardner LLP

IRS Provides Additional Guidance for CARES Act Retirement Plan Loans and Distributions

Foley & Lardner LLP on

On June 19, 2020, the IRS issued Notice 2020-50 (the “Notice”), which provides additional guidance regarding coronavirus distributions and loans from qualified retirement plans under the Coronavirus Aid, Relief, and Economic...more

Jackson Walker

Additional Clarity for Employers and Retirement Plan Administrators on Coronavirus Relief Under the CARES Act

Jackson Walker on

After the CARES Act was enacted, plan administrators had questions regarding how to determine if a participant is eligible to receive a Coronavirus distribution, Coronavirus loan, or delay of loan payments because a...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

Lowenstein Sandler LLP

Deferred Compensation Considerations in the Wake of the COVID-19 Pandemic

Lowenstein Sandler LLP on

As the COVID-19 pandemic continues to unfold, both employers and employees are faced with liquidity issues, furloughs, layoffs, and the reduction of hours. In order to conserve cash, employers may be looking for ways to delay...more

Lowenstein Sandler LLP

COVID-19: Focus on Executive Compensation

Lowenstein Sandler LLP on

The impact of the COVID-19 pandemic on the business community is unprecedented. Every company and executive is questioning the effects the disease will have on their business, employees, customers, and local and global...more

Jackson Lewis P.C.

ISS COVID-19 Compensation Guidance More Flexibility (Maybe) For Public Companies, But More Tax Risk (Maybe) For NEOS

Jackson Lewis P.C. on

The executive and equity compensation plans, agreements, policies and arrangements (collectively, the “Plans”) of publicly traded companies receive close scrutiny from various shareholder advocacy groups during the annual...more

Holland & Hart - The Benefits Dial

I Think a Change, a Change Would Do You Good . . . Modifying Deferred Compensation Plan Contributions and Elections During the...

Holland & Hart - The Benefits Dial on

In response to the unprecedented worldwide COVID-19 pandemic, businesses are turning to cash flow issues resulting from the abrupt economic downturn. Companies are looking to reduce operating costs and employees are...more

McCarter & English, LLP

Tax-Qualified Deferred Compensation Plan Sponsors: Considerations For Administration During The COVID-19 Pandemic

McCarter & English, LLP on

This Alert discusses certain considerations for tax-qualified retirement plan (in particular, 401(k) and 403(b) plan) sponsors and fiduciaries in light of business/market conditions, employee needs and law changes resulting...more

Morgan Lewis - ML Benefits

Nonqualified Deferred Compensation Plans: Unforeseeable Emergency Withdrawals, Deferral Election Cancellations During COVID-19

Morgan Lewis - ML Benefits on

Due to the economic and financial upheaval caused by the coronavirus (COVID-19) pandemic, many employees are asking their employers if they are able to cancel their deferral elections and/or receive accelerated payments from...more

McCarter & English, LLP

Nonqualified Deferred Compensation Plan Sponsors: COVID-19 Pandemic Considerations

McCarter & English, LLP on

This Alert discusses certain considerations for employers that sponsor nonqualified deferred compensation plans, in light of business/market conditions and employee needs resulting from the COVID-19 pandemic, with a...more

K&L Gates LLP

COVID-19: COVID-19 Considerations: Compensation Topics

K&L Gates LLP on

In the wake of the COVID-19 pandemic and the resulting economic uncertainty, many employers are searching for ways to be financially prepared in the weeks and months to come while simultaneously balancing the well-being of...more

Snell & Wilmer

Salary Deferrals in the Time of COVID-19

Snell & Wilmer on

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,...more

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