It’s no secret that the new administration has very different governance practices and priorities. Congress and CEO Pay Ratio regulations are being examined and the SEC has opened the topics for discussion. Change is here and boards will likely encounter unforeseen challenges during the transition. This begs the question: How can boards prepare their organization… Read more »
Tax Reform Faces an Uphill Challenge
Many Americans are eager to enjoy the across the board tax rate cuts that President Trump promised so frequently during the election. There are numerous Republican law makers that have said their top priority is a large tax cut. House Speaker, Paul Ryan, and Ways and Means Committee Chairman, Kevin Brady, have prepared a detailed… Read more »
Voluntary Nonqualified Deferred Comp Plan Updates, Finalizations and Future Planning
Plan Sponsors – Enrollment is closed and elections have been made. It is time to incorporate the new elections into your administration system and most importantly into your payroll system. If you work with an outside TPA, (Third Party Administrator), they will update the admin system and online platform. They will also communicate to you… Read more »
Updated Accounting Standards Released for BOLI and COLI
The Financial Accounting Standards Board (“FASB”) recently released an update that clarified guidance for owners of Corporate Owned Life Insurance (“COLI”) and Bank Owned Life Insurance (“BOLI”) regarding how to record cash proceeds from such policies. In Accounting Standards Update 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,… Read more »
Reminder – Enrollment and elections due by 12/31/2016!
REMINDER: All Nonqualified Voluntary Deferred Compensation Plan Participants & Sponsors – Nonqualified Enrollments and Elections for 2017 MUST BE RECIEVED BY 12/31/2016!
It’s Dividend Announcement Time
As we move into the middle of Fall, many of the major insurance companies will begin to announce their respected dividend interest crediting rates for the upcoming year. As most consumers are aware, interest rates continue to be at record low levels, and as a result of this, it is predicted that consumers should anticipate… Read more »
WEBINAR: Worried about losing future leaders? (9.28.16)
Missed our Webinar ? Have no fear, you can watch it now! TOPIC: Worried about losing your future leaders? Traditional deferred compensation plans do not always work for your younger rising stars. It’s no secret that today’s rising talent prefer more immediate cash reward than additional retirement benefits. What else can you do other than… Read more »
Multiple Uses of Deferred Compensation Plans
With the improving economy, key employees that had been limited in other employment opportunities and resistant to look for new jobs are now willing to explore possible employment changes. Employers need well designed incentives to recruit and retain key employees. Key executive deferred compensation programs are popular vehicles to motivate, incent, and retain key… Read more »
Dodd-Frank Act & Executive Compensation
The Dodd-Frank Act directly impacts compensation provisions of the law and has adopted the Securities and Exchange Commission (SEC) rules. Shareholder votes on executive compensation (Section 951) and independence of compensation committees (Section 952) have been affected. There’s been consistent movement in finalizing this Act; however, some of the rules are still in the process of… Read more »
409A Deferred Compensation & 457 Regulations (Government & Tax-Exempt)
409A Deferred Compensation & 457 Regulations The IRS recently proposed regulations for Section 409A for nonqualified deferred compensation plans and 457(f) regulations for deferred compensation plans of state and local governments and tax-exempt entities. Section 409A of the Internal Revenue Code is a set of rules that govern nonqualified deferred compensation plans. The… Read more »