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Executive Compensation Drafting Tips for Today’s Litigious World

Fulcrum Partners Deferred Compensation News

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 …

highly compensated employees Fulcrum Partners

Do Your Company’s Highly Compensated Employees Provide Services to Your Foundation?

Fulcrum Partners Deferred Compensation News

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, …

Third Party Plan Administrator

#ICYMI Evaluating the Third-Party Plan Administrator or Trustee

Fulcrum Partners Deferred Compensation News

#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 …

Assessing Your Plan Administrator and Your Nonqualified Deferred Comp Plan or Rabbi Trust

Assessing Your Plan Administrator and Your Nonqualified Deferred Comp Plan or Rabbi Trust

Fulcrum Partners Deferred Compensation News

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 …

Save More “Help Your Clients’ Key Employees Bridge the Retirement Gap,”

Save More than a 401(k) or 403(b) Plan Allows

Fulcrum Partners Deferred Compensation News

A nonqualified deferred compensation plan (NQDC) allows employees to save above and beyond the limits of a 401(k) or 403(b) plan. Plus, employees may be able to take advantage of tax benefits not offered with other savings options. Unlike a deferred comp plan, a 401(k) plan, 403(b) plan and Individual Retirement Accounts (IRAs) have limits on how much the employee …

Hardship Withdrawal Rules

Further Insights on the Revised Rules for Retirement Plan Hardship Withdrawals

Fulcrum Partners Deferred Compensation News

Following up our March 12, 2019, blog “Important Changes in the Rules for Hardship Withdrawals from 403(b) Retirement Plans”, we’re sharing these additional insights from Strategic Retirement Partners: Hardship Withdrawals – IRS Issues Proposed Regulation Reflecting Statutory Changes This past November, the IRS issued proposed regulations to effectuate changes made for hardship withdrawals in the Bipartisan Budget Act of 2018. …

Hardship Withdrawal 403b Retirement Plans

Important Changes in the Rules for Hardship Withdrawals from 403(b) Retirement Plans

Fulcrum Partners Deferred Compensation News

Effective January 1, 2019, the rules for hardship withdrawals from many types of retirement plans changed. The changes, which come as a result of revisions to the Tax Cuts and Jobs Act of 2017 and, more specifically, the Bipartisan Budget Act of 2018, generally make it easier for plan participants to withdraw funds from their 401(k) or 403(b) plans, in …

SALT State and Local Taxes How Nonqualified Plans Can Help Protect Retirement Income

SALT State and Local Taxes: How Nonqualified Plans Can Help Protect Retirement Income

Fulcrum Partners Deferred Compensation News, Executive Benefits News

The tax overhaul signed into law in December 2017 (Tax Cuts and Jobs Act) set a $10,000 cap on state and local tax (SALT) deductions that can be taken from US federal income taxes. High-income earners who live in areas where state and local taxes are steep, such as California, New Jersey, New York and many other venues, are getting …

Annual Incentive Bonus

409A Guidelines on Payment of Annual Incentive Bonus

Fulcrum Partners Deferred Compensation News

From our friends at Winston & Strawn LLP, and attorney Michael S. Melbinger:   Payment of Annual Incentive Bonus by March 15 Now that the madness of Code Section 409A has subsided in the deepest, darkest corners of the mind and new generations are coming into the compensation and legal professions whose minds were not infected with the madness, I …