New IRS Form 1099-NEC for Non-Employee Compensation, Including Directors’ Fees

The Use of Tax Form 1099-NEC vs. Form 1099-Misc

Fulcrum Partners Deferred Compensation News

Thanks Attorney Mike Melbinger for providing us this update on the new Form 1099-NEC reporting for non-employee compensation, including directors fees, and reporting on the existing Form 1099-MISC for excess golden parachute payments and NQDC amounts that fail to satisfy IRS Code 409A. …And for guidance on 409A-compliant NQDC options, talk to the team at Fulcrum Partners. New IRS Form …

Top CEO Concerns Post-COVID-19: Talent and Corporate Responsibility

Top CEO Concerns Post-COVID-19: Talent and Corporate Responsibility Part II

Fulcrum Partners Deferred Compensation News

Yesterday, in Deferred Compensation News, we looked at results from the KPMG 2020 CEO Outlook, a study conducted in January and February of 1,300 CEOs, followed this summer by re-surveying 315 of the participants. If you missed yesterday’s news, you’ll want to read Part I of “Top CEO Concerns Post-COVID-19: Talent and Corporate Responsibility,” where we published how survey respondents …

Top Hat Plans: What Executives and Organizations Need to Know

Top Hat Plans: What Executives and Organizations Need to Know…and Why

Fulcrum Partners. Deferred Compensation News

This past January, the U.S. Government Accountability Office (GAO) published its initial findings after conducting a review of executive retirement plans, specifically, top hat plans. The study came in response to a request filed by U.S. Senators Ron Wyden (Oregon), Bernie Sanders (Vermont), and Patty Murray (Washington).

This article looks at 1.) the GAO’s report; 2.) the final rulings by the U.S. District Court in the class action lawsuit of Berry v Wells Fargo & Co; and, 3.) the implications of both on Top Hat plans in general.

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Deadline for RMD Rollback Under CARES Act is August 31

Fulcrum Partners. Deferred Compensation News

Taxpayers who have already taken their required minimum distribution, RMD, for 2020, have the option for an RMD Rollback under the CARES Act if taken by August 31, 2020. The intention of this option is to provide tax relief for those who took their required RMD prior to the Coronavirus Aid, Relief, and Economic Security (CARES) Act becoming law on March 27, 2020 and wish to ‘undo’ their action.

Human Capital Management and Corporate Accountability

Human Capital Management and Corporate Accountability

Fulcrum Partners Deferred Compensation News

Is your organization prepared to be accountable to stakeholders (and the marketplace) for its human capital management policies and practices? If your company is still looking at human capital as a cost and not an asset, brace yourself for a dramatic perspective shift. As Michael S. Melbinger, attorney and author of the Executive Compensation Blog, has observed, “the COVID-19 pandemic has pushed human capital issues to the fore like never before.”

What is Nonqualified Deferred Compensation and Why Do Companies Use It?

What is Nonqualified Deferred Compensation and Why Do Companies Use It?

Fulcrum Partners. Deferred Compensation News

A nonqualified deferred compensation plan (NQDC) is an unsecured promise made by an employer to pay compensation to key employees at a prespecified time in the future or upon the occurrence of a predetermined event. An NQDC plan is also one of the most powerful tools available to employers for recruiting, retaining, and rewarding key employees.

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5 Mistakes in Life Insurance Planning

Fulcrum Partners. Deferred Compensation News

More than three years ago, we first published an in-depth look at 5 mistakes in life insurance planning. Despite shifts in politics and the economy, tax code changes, and other variables of life, the facts remain the same. In personal life insurance planning, particularly as part of estate planning, even minor oversights can lead to major tax problems. 

Recognizing that efforts to reduce cost in the short term could lead to problems, we’re resharing this important information on 5 key trouble spots in life insurance planning.

Arrest Made in Retirement Plan Fraud Case

Arrest Made in Retirement Plan Fraud Case

Fulcrum Partners. Deferred Compensation News

Earlier this month, a federal grand jury indicted an Orange County, California man on charges related to retirement plan fraud. The U.S. Attorney’s Office for the Central District of California reported that the plaintiff has been charged with three counts of bank fraud and one count of aggravated identity theft after allegedly obtaining the personal information of an unspecified number of Boeing employees.