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.
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.
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.
This is a friendly reminder that 2017 PLANSPONSOR Retirement Plan
Sponsor of the Year nomination forms are still available. Don't wait to nominate—time is running out!
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.
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.
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.