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Section 457(f)

Foley & Lardner LLP

Code §457 Plans: Making the Best Choice for Your Nonprofit Organization

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If we’ve said it once, we’ve said it a hundred times (ok, maybe just that one time) – recruiting and retaining top talent can be a headache for nonprofit organizations forced to compete against for-profit organizations...more

Bond Schoeneck & King PLLC

Recent Developments in the World of Sports Provide an Opportunity for a Refresher on Internal Revenue Code Sections 409A and...

While the news cycle in the world of sports is ever changing, a few occurrences in the past several years deserve further discussion in the executive compensation community – Shohei Ohtani’s deferral of $680 million in salary...more

Verrill

Section 457(f) Plans and Noncompete Clauses: What the IRS Gave, the FTC May Take Away

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When the IRS published proposed regulations harmonizing key provisions of Code Sections 409A and 457(f) in 2016, executive compensation lawyers and consultants rejoiced. It was not just that a long wait was over (roughly nine...more

Verrill

Next Steps for Making Collective Investment Trusts Available to More Retirement Plans

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Collective investment trusts (“CITs”) have become an increasingly popular choice for 401(k) plan investment menus over the past decade, consistent with a trend toward lower-cost investment options that has been driven, in...more

Holland & Hart - The Benefits Dial

You Spin Me QPAM Baby QPAM: DOL’s Proposed QPAM Rule May Mean Changes to Collective Trust Agreements for Plan Sponsors

The DOL published on July 27, 2022 a proposed change to the QPAM Exemption (“Proposed QPAM Amendment”) that may require retirement plan sponsors to update their collective trust agreements in order to satisfy the new DOL...more

Verrill

Using a Non-Compete to Create a Substantial Risk of Forfeiture Under a Section 457(f) Plan: Limited (But Meaningful) Opportunities

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The Treasury Department’s proposed regulations regarding the income tax treatment of “ineligible plans” of tax-exempt employers under Code Section 457(f), published in June 2016, were greeted with much fanfare. (You can...more

Foley & Lardner LLP

Tax Cuts and Jobs Act – New Compensation Tax for Non-Profit Organizations on Excess Compensation and Excess Parachute Payments

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The Tax Cuts and Jobs Act passed late last year and became effective as of January 1, 2018. The Act includes a new provision that subjects certain “excess compensation” paid by exempt organizations (organizations exempt from...more

Bond Schoeneck & King PLLC

Let’s BOND over the Tax Act Part II - The Higher Education Edition

In the spirit of accentuating the positive, there are a few bits of good news for colleges and universities in the Tax Act…as Mary Poppins might say, a spoonful (or three) of sugar to help the medicine go down. Unfortunately,...more

McDermott Will & Emery

Proposed 457(f) Regulations: Opportunities and Challenges

The 2016 proposed regulations significantly expanded 457(f) plan sponsors’ ability to permit elective deferrals, use noncompetition agreements and make larger severance payments than otherwise permitted under 409A without...more

McDermott Will & Emery

Three Key Employee Benefit Plan Issues for Health Systems in 2017

McDermott Will & Emery on

Health system employers should make sure they are familiar with three key employee benefit issues: (1) the new Department of Labor (DOL) fiduciary rule that currently becomes effective April 10, 2017 (but may be delayed in...more

Bond Schoeneck & King PLLC

Higher Education Tax and Benefits Memo: Recent IRS Audit is a Reminder to Check Whether Your Employment Agreements and Appointment...

The Internal Revenue Service ("IRS") recently notified a major university that it is being audited, and as part of that audit requested copies of the employment agreements of the president of the university, the provost of...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Code Section 409A and You: The IRS Issues New Guidance

Authors: John A. Morrison (Atlanta), Taylor Bracewell (Atlanta) Published Date: October 11, 2016 Earlier this summer, the Internal Revenue Service (IRS) issued proposed regulations under Sections 409A and 457 of the Internal...more

Poyner Spruill LLP

IRS Guidance on Section 457: What Non-Profit and Governmental Employers Need to Know (Part 2)

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We're back with the second installment in our series on the IRS's Section 457 proposed rules. The first alert covered Section 457(f) basics and discussed the meaning of "deferred" compensation....more

Pillsbury Winthrop Shaw Pittman LLP

A New Landscape - Compliance clarifications and planning opportunities for governmental and tax-exempt employers sponsoring...

On June 22, 2016, the Internal Revenue Service (IRS) published its long-awaited proposed regulations (the Proposed Regulations) under Section 457(f) of the Internal Revenue Code (the Code). Section 457(f) governs the taxation...more

Katten Muchin Rosenman LLP

Proposed Treasury Regulations Provide Additional Flexibility, Clarity and Planning Opportunities to Sponsors of Deferred...

The IRS recently issued proposed regulations under Internal Revenue Code Section 457 that address, among other things, the interplay between Code Section 457(f) and Code Section 409A. Additionally, the IRS issued clarifying...more

Poyner Spruill LLP

IRS Guidance on Section 457: What Non-Profit and Governmental Employers Need to Know (Part 1)

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There has been a lot of buzz recently about the long-awaited proposed rules issued by the Internal Revenue Service under Internal Revenue Code Section 457. Section 457 only applies to non-profit and governmental employers and...more

Bond Schoeneck & King PLLC

Employee Benefits: Steps Eligible Tax-Exempt and Governmental Employers Should Take Regarding the New Proposed Deferred...

After more than nine years of waiting, eligible tax-exempt, state government and local government employers (collectively, "Tax-Exempt and Governmental Employers") finally have received the guidance long promised by the...more

Patterson Belknap Webb & Tyler LLP

New Proposed Regulations for Section 457(f) Nonqualified Deferred Compensation Arrangements of Non-Profit and Governmental...

The Internal Revenue Service recently released long anticipated proposed regulations (the “Proposed Regulations”) governing deferred compensation arrangements maintained by tax-exempt organizations and governmental entities...more

BCLP

Good News! New 409A Regulations (Yes, Really!) – Part 4: Getting Paid

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On the TV show Futurama, the aged proprietor of the delivery company Planet Express, Professor Hubert J. Farnsworth, had a habit of entering a room where the other characters were gathered and sharing his trademark line,...more

Pierce Atwood LLP

IRS Issues Proposed Regulations Under Code Section 457(f)

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In June 2016, the IRS issued long-awaited proposed regulations under Section 457(f) of the Internal Revenue Code of 1986, as amended. While the proposed regulations will generally apply to compensation deferred under a plan...more

Locke Lord LLP

IRS Issues Proposed Regulations Affecting Deferred Compensation Plans of Tax-Exempt Organizations

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On June 21, 2016, after more than 15 years of ongoing deliberations, the U.S. Department of the Treasury (the Dept. of Treasury) issued proposed regulations under Section 457 of the Internal Revenue Code of 1986 (the Code),...more

Sherman & Howard L.L.C.

Employee Benefits Advisory: New Proposed 457 Regulations May Impact Deferred Compensation Arrangements Maintained by Tax-Exempt...

On June 21, 2016, concurrent with its issuance of proposed regulations under Code section 409A, the IRS also issued proposed regulations under Code section 457, which address deferred compensation arrangements covering...more

Davis Wright Tremaine LLP

Long-Awaited 457 Plan Regulations Provide Planning Opportunities for Tax-Exempt and Governmental Employers

On June 22, 2016, the Internal Revenue Service (IRS) and Treasury Department issued proposed regulations under Section 457 of the Internal Revenue Code, fulfilling a nearly decade-old commitment to provide additional...more

Faegre Drinker Biddle & Reath LLP

Proposed 409A Regulations Provide Clarity and Some Flexibility

On the same day it released proposed regulations under Section 457 — as reported in our "New 457 Regulations for Nonqualified Deferred Compensation Plans of Tax-Exempt and Government Employers" update —the IRS released...more

Eversheds Sutherland (US) LLP

Deferred No Longer: Treasury and IRS Issue Long-Awaited 409A Guidance

On June 21, the Treasury Department and the Internal Revenue Service (IRS) issued proposed Internal Revenue Code (Code) section 409A regulations, modifying existing proposed and final section 409A regulations regarding...more

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