COVID-19 and the Unforeseen Financial Emergency Under IRC 409A

Fulcrum Partners Deferred Compensation News

Internal Revenue Code Section §409A (IRC 409A) regulations govern the design and administration of nonqualified executive benefit plans. Nonqualified executive benefit plans have very specific rules on the form and timing of participant distributions and, generally, offer little flexibility on changing the form or timing of the distributions following the submission of the election form. One of the exceptions in the 409A regulations for altering previously submitted distribution elections is addressed under the unforeseeable emergency provisions.

Report Published on Rabbi Trusts During Times of Economic Uncertainty

Fulcrum Partners Fulcrum Partners Media Release

PONTE VEDRA BEACH, FL — (March 26, 2020) Fulcrum Partners, one of the nation’s largest executive benefits advisories, announces publication of “Rabbi Trust: An Important Element of a Nonqualified Executive Benefit Plan during Times of Financial Stress.” The whitepaper, which is available to view online or download as a PDF, provides an overview of nonqualified plan benefit security issues that are important to review during financial or economic turmoil, specifically looking at rabbi trusts as the primary benefit security tools available to nonqualified plan sponsors.

Impact of covid 19 on retirement

Impact of the COVID-19 Pandemic on Your Medical and Retirement Plans

Fulcrum Partners Deferred Compensation News

IslerDare is a legal firm dedicated exclusively to the representation of management in all aspects of labor, employment and employee benefits law. We frequently share their insights here on the Deferred Compensation Blog, and are pleased to provide you this link to their timely newsletter, “The Impact of the COVID-19 Pandemic on Your Medical and Retirement Plans,” and the excerpt featured below, which specifically addresses current IRS positions on issues that could result from the COVID-19 Pandemic. 

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Executive Compensation Professionals Do Not Come Across the HSR Act Often

Fulcrum Partners Executive Benefits News

Are you familiar with the Hart-Scott-Rodino (HSR) Act? Although it is designed to cover large mergers and acquisitions, it can come in to play for select individuals. When the executive compensation plans of highly compensated employees rely heavily on corporate stock to reward the executive, the reporting guidelines of HSR can potentially apply at the individual level.

Doing Business When It’s Not Business as Usual

Fulcrum Partners Fulcrum Partners NEWS

At Fulcrum Partners, we’re doing the same things you are, following recommended best-practices for dealing with coronavirus (COVID 19). We’re also working with our clients, and their clients, in ways that are flexible and accommodating.