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Deferred Compensation › Internal Revenue Service › Benefit Plan Sponsors

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 -
Williams Mullen

Annual Employee Benefits Compliance Checklists - Corporate Counsel

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The following checklist highlights key issues for corporate counsel with respect to employee benefit plans and executive compensation arrangements....more

Snell & Wilmer

Updated Nonqualified Deferred Compensation Plan Audit Guide

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In June the Internal Revenue Service released an updated Nonqualified Deferred Compensation Audit Technique Guide. This updated Guide replaces the initial Guide published in 2015. While it is too early to say whether the...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

Verrill

December 31 Sunset of Safe Harbor Correction Method for Certain Elective Deferral Failures Benefits Law Update

Verrill on

A special IRS-approved correction method available for elective deferral failures in 401(k) and 403(b) plans with automatic contribution features will sunset on December 31, 2020, meaning it will not be available to correct...more

Jackson Walker

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

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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

Foley & Lardner LLP

Final Regulations on Hardship Distributions: Not Much New News is Good News

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If your company sponsors a 401(k) or 403(b) plan that allows participants to take hardship distributions, you probably had a conversation with your plan recordkeeper last year about changes to the rules on hardship...more

Proskauer - Employee Benefits & Executive...

[Podcast]: Proposed IRS Regulations Affecting 401(k) and 403(b) Plans

Proskauer - Employee Benefits & Executive... on

In this episode of the Proskauer Benefits Brief, Paul Hamburger co-chair of Proskauer’s Employee Benefits & Executive Compensation Group, and associate Steven Einhorn discuss the recently proposed IRS regulations addressing...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

On The Form 5500, sometimes the answer lands you in trouble

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

When you’re filing that Form 5500, just notice that certain answers may likely lead you to an Internal Revenue Service or Department of Labor audit....more

Verrill

401(k) Plan Sponsors – Time to Revisit Your Hardship Withdrawal Provisions

Verrill on

The Bipartisan Budget Act of 2018 (“Budget Act”) includes several changes to the rules governing hardship withdrawals from 401(k) plans. Because the changes apply to plan years beginning after December 31, 2018, 401(k) plan...more

BCLP

Cautionary Observations from the Proposed 457 Regulations

BCLP on

After more than nine years of deliberations, the IRS has finally released proposed regulations governing all types of deferred compensation plans maintained by non-profit organizations and governmental entities. In...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - October 2015

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

Bundled vs. Unbundled 401(k) Plan Providers: The Choice Is Not Clear. Not an easy choice. In our lives, there are times when we have two important choices. It's Coke vs. Pepsi, Mac vs. PC, Xbox vs. PlayStation...more

Mintz - Employment, Labor & Benefits...

The New, New (EPCRS Voluntary Correction) Thing: 457(b) Plans

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The IRS’s Employee Plans Compliance Resolution System (or “EPCRS”) permits corrections, both voluntary and on audit, of a broad range of “qualification failures” — i.e., violations of sometimes arcane and complex tax rules —...more

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