On Tuesday October 27, Fulcrum Partners will host an informative Nonqualified Deferred Compensation NQDC Plan Enrollment Checklist Webinar. Register here today.
Last week the National Financial Educators Council (NFEC) announced the results of its most recent financial literacy survey. When faced with a financial challenge, nearly 40 percent of Americans ask their parents, family, friends, or coworkers for guidance.
While there are numerous strategies when addressing the need for estate liquidity and wealth transfer planning, the goal is always to identify optimal solutions and opportunities. In a landscape where legislative and tax rules are ever changing, you want solutions that are both long-lasting and flexible. And no matter how well designed, legacy plans require timely review to ensure they …
In order to remove possible barriers to the broader use of multiple employer plans, the Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”) of 2019 authorized the establishment of Pooled Employer Plans (“PEPs”), which are defined contribution plans that provide retirement benefits to employees of two or more unrelated employers funded entirely through individual retirement accounts.
Since September 5, 1882, the United States of America has celebrated Labor Day. Following twelve years of the date being celebrated and honored by the Central Labor Union, on June 28, 1894, President Grover Cleveland signed the law making the first Monday in September a national holiday every year.
On August 26, the Securities and Exchange Commission (SEC) announced changes to Regulation S-K as part of its human capital disclosure requirements for companies’ non-financial reporting.
“Many of the amendments,” stated the SEC media release issued last week announcing the adoption of the new guidelines, “reflect the Commission’s long-standing commitment to a principles-based, registrant-specific approach to disclosure. These disclosure requirements, while prescriptive in some respects, are rooted in materiality and are designed to facilitate an understanding of each registrant’s business, financial condition, and prospects. The rules are designed for this information to be presented on a basis consistent with the lens that management and the board of directors use to manage and assess the registrant’s performance.
Last week, the law offices of Winston & Strawn announced the launch of its Environmental, Social, and Governance (ESG) Advisory Team. Co-chaired by Houston-based partners Mike Blankenship and Eric Johnson, the ten-member advisory team includes Mike Melbinger, a specialist in executive compensation and employee benefit programs and a frequently published subject matter expert here on Deferred Compensation News.
The rules are changing for Proxy Voting Advice Businesses (PVAB), with approval by the SEC of new guidelines. The SEC’s final rule statement (published July 22, 2020) explains, “The Securities and Exchange Commission (“Commission”) is adopting amendments to its rules governing proxy solicitations so that investors who use proxy voting advice receive more transparent, accurate, and complete information on which to make their voting decisions, without imposing undue costs or delays that could adversely affect the timely provision of proxy voting advice.
A provision of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Paycheck Protection Program, PPP, has been a difference-maker for many U.S. companies. As of June 30, 2020, nearly 5 million small and medium-sized businesses received a much-needed cash infusion to help them make payroll during the height of the COVID-19 pandemic. But where there is loan money available on payback forgiveness terms, there will inevitably be fraudsters attempting to game the system.
Proposed Department of Labor regulations on ESG investing (environmental, social, and governance) by retirement plans have drawn criticism from thirteen members of the US Senate. In a comment letter dated July 15, 2020, Independent party member, Senator Bernie Sanders, along with 12 Democratic Senators*, expressed “deep concern” over the DOL’s proposal “discouraging retirement plan fiduciaries from considering environmental, social, or governance (ESG) criteria in their investment decisions relating to ERISA-governed** retirement plans.”