Why Employers Use Nonqualified Deferred Comp

Why Employers Use Nonqualified Deferred Comp Plans

Fulcrum Partners Deferred Compensation News, Executive Benefits News

As the federal income tax structure is being re-tooled yet again, employers are evaluating the use of nonqualified plans as a strategy for positioning the organization’s executives to save more effectively for retirement. Why employers use nonqualified deferred comp plans includes benefits both for the organization and for its executives.

Cybersecurity for Defined Benefit Plan

Cybersecurity for Your Defined Benefit Plan

Fulcrum Partners Executive Benefits News

Last month, the U.S. Department of Labor (DOL) issued a press release aimed at defined benefit plan sponsors, plan fiduciaries, record keepers, and plan participants. For the first time, the DOL’s Employee Benefits Security Administration issued cybersecurity guidance.

Split-Dollar Life Insurance Agreement

Retaining Key Talent with a Split-Dollar Life Insurance Agreement

Fulcrum Partners Executive Benefits News

In 2016, a split-dollar life insurance agreement between the University of Michigan and its head football coach, Jim Harbaugh, received extensive  publicity. (Read Tax Reform Elevates Split-Dollar Arrangements As Incentive Plan). Harbaugh’s agreement, as reported by Dan Murphy, ESPN, (2016) and a Freedom of Information Act request, shapes up like this, “In addition to paying a $5 million salary for …

Social Security COLA 2021 Forecast and Facts

Social Security COLA 2021 Forecast and Facts

Fulcrum Partners Executive Benefits News, Human Resources

If there is a Social Security COLA 2021, it is likely to be modest, at best. At some point, between now and the election, the Social Security Administration will publish its annual announcement regarding any Cost of Living Adjustment (COLA) for next year. Fox Business quoted The Senior Citizens League as saying the Social Security cost of living adjustment for …