In case you missed it (#ICYMI), we’re republishing one of the most-read updates we’ve shared this year on Deferred Compensation News and Updates. Download report as a PDF Offsetting the 401(k) Refund To help ensure that a 401(k) plan does not favor business owners or other highly compensated employees (HCEs), plan sponsors are required to perform specific nondiscrimination tests. The …
We are always pleased to share the insights of Attorney Michael Melbinger, Winston & Strawn LLP. The following commentary was published on June 20, 2019, on the Executive Compensation Blog and is highly informative but does not constitute legal advice. The executive benefits consulting professionals at Fulcrum Partners advise you to always consult your own tax, legal, and accounting advisers. …
Download report as a PDF The 401(k) Excess Contribution Solution To help ensure that a 401(k) plan does not favor business owners or other highly compensated employees (HCEs), plan sponsors are required to perform specific nondiscrimination tests. The Actual Deferral Percentage test (ADP) is used to help determine a 401(k) plan’s deferral limits. IRC Section 401(k)(3)(A)(ii) established the ADP test …
Download as a PDF Question: Why do employers, as plan sponsors, offer deferred compensation plans? of employers offer deferred compensation plans in order to create a competitive benefits package of employers want to help plan participants save for retirement beyond the limits of qualified plans of employers believe a deferred comp plan helps them retain key employees of employers …
Sharing this handy Plan Review Checklist from our strategic advertising partners, SRP, Strategic Retirement Partners. Spring Cleaning for Your Retirement Plan Spring is in the air and now could be a great time to do a little spring cleaning for your retirement plan. Here are a few quick things you can do help ensure your plan is in tip top …
If you read the Deferred Compensation News, you know we regularly carry important insights from attorney Michael S. Melbinger, Winston Strawn. In his most recent blog, Mike shared two tips that employers should always consider in drafting executive compensation terms, releases, and related documents regarding an executive’s compensation. And of course, Fulcrum Partners always advises you to consult your own …
Benefits designed for employees also provide advantages for companies Key employees help lead a company and keep it on the right path. So finding and keeping those key employees is a priority. Key employees also want to work for a company that values their hard work – and offers them additional ways to save for the future. A nonqualified deferred …
As Winston & Strawn Attorney, Michael Melbinger, observes in the Executive Compensation Blog, many companies and their top executives are still crossing their fingers that revisions are forthcoming to IRS Notice 2019-09. But as time slips by, the potential problems that could be created for publicly traded and for-profit companies become increasingly more disconcerting. Read Mike’s commentary here, in entirety, …
#ICYMI (In Case You Missed It), Following the news of a major acquisition of retirement business last week, we are re-sharing our comments on: Assessing Your Plan Administrator and Your Nonqualified Deferred Comp Plan or Rabbi Trust Big Changes. Inevitable Questions Earlier this week, Principal Financial Group Inc. announced that it has entered into an agreement to buy Wells Fargo …
Big Changes. Inevitable Questions Earlier this week, Principal Financial Group Inc. announced that it has entered into an agreement to buy Wells Fargo & Company’s retirement plan services unit for $1.2 billion. The acquisition covers all existing Wells Fargo Institutional Retirement and Trust (IRT) business. As of December 31, 2018, the respective Wells Fargo retirement businesses had $827 billion in …