Among other amendments that have already emerged in both the House and the Senate tax proposals, it seems nonqualified deferred compensation plans will more or less be left alone.
Tag: Deferred compensation
The plaintiffs challenge three features of the 2012 amendment: the change to the crediting rate; the introduction of potential for risk and volatility into the plan; and variations in annual distribution.
The proposal effectively eliminates nonqualified deferred compensation (NQDC) plans as tools for tax planning available to executives and public companies, attorneys with Groom Law Group say.
This is a 2.25% increase from the average balance in the second quarter of the year.
Nominating a plan sponsor client is a great way to show appreciation and highlight important best practices that are improving outcomes for defined contribution and pension plan participants. Nominations for all types of retirement plans will be considered, so don’t delay.
Many states are looking at how they might implement government-sponsored IRAs, commonly known as auto-IRAs, which provide automatic enrollment of eligible private-sector workers.
Companies midsized and up are likelier to offer NQDCs, HSAs and more
The adviser’s role when working with a client’s multiple retirement plans.
Plan sponsors look to advisers for help crafting NQDC plans for HCE employees
Canadian pensions do a good job of keeping costs down, diversifying and using alternative investments.
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A growing number of NQDC plan sponsors offer participants the opportunity to make “in-service” distribution elections.
ERISA Section 502(a)(3) may extend to remedy inequitable conduct pertaining to a supposed waiver of plan rights and to a breach of the general good faith standard of contract law by the plan administrator, a court found.
Data & Research
Data & Research
... yet its proposed rules backtrack on vesting threat
However, more education about how they work is needed.
The proposed regulations include a withdrawal of a specific provision of the notice of proposed rulemaking published in December 2008 regarding the calculation of amounts includible in income under Section 409A(a)(1) and replaces that provision with revised proposed regulations.
Thirty-eight percent know how much they’ll need, and 40% have decided the age when they’ll retire.
Because an appellate court found claims against Marriott's plan were time-barred, it did not consider the question of whether the plan was a top hat plan.
The IRS says if a benefit formula applies solely to a highly compensated employee who is identified by name, it does not apply to a reasonable business classification.