Divorce and the Nonqualified Deferred Compensation Plan

Divorce and the Nonqualified Deferred Compensation Plan

Fulcrum Partners Deferred Compensation News, Human Resources

Divorce and the nonqualified deferred compensation plan (NQDC) can be an issue that is challenging to navigate. Obviously, the plan participant who is in the thick of it is dealing with demands on time, money, and emotions. But the plan sponsor can also have a role that calls for much more than nodding their heads sympathetically and saying, “That must be very difficult for you.”

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 …

Department of Labor Thanks the Rosies

The Department of Labor Says “Thank You” to The Rosies

Fulcrum Partners Human Resources

Today the US Department of Labor (DOL) honors the “Rosies”. The history-making women who riveted, welded, and took on roles as first responders during World War II are collectively known as the “Rosies”. By stepping in to effectively handle jobs previously held by men, the Rosies enabled the production of the planes, ships, tanks, arms and munitions that empowered the …

PPP Forgiveness Calculation Guide

PPP Loan Forgiveness Calculation

Fulcrum Partners. Human Resources

If your business obtained a PPP loan, whether you plan to repay the loan or to seek PPP loan forgiveness, you need to be fully aware of the revised terms and conditions established under the Paycheck Protection Program (PPP) Flexibility Act of 2020 (PPPFA). The PPP Flexibility Act (HR 7010) was signed into effect by President Donald Trump on June 5, 2020. This action changes and replaces the terms of PPP Act loans and adds flexibility that will be valued by many borrowers.

Executive Comp Limits When Companies Receive Stimulus Aid

Executive Comp Limits When Companies Receive Stimulus Aid

Fulcrum Partners Human Resources

Previously, we’ve shared updates to help companies and their key executives with regard to executive comp limits for organizations that receive certain types of COVID-19 loans, loan forgiveness, or stimulus aid. See: CESA Act Loans: Further Information* and Insights and Executive Compensation Restrictions and the CARES Act

Close up of a snail in the countryside

Electronic Disclosure Safe Harbor for Retirement Plans

Fulcrum Partners. Human Resources

Last week, the Department of Labor (DOL) finalized regulations for the new “notice and access” safe harbor for retirement plans. Known as “NOA Safe Harbor,” the new guidelines permit plan administrators to send required disclosures to plan participants and beneficiaries via email or other electronic means, including allowing employers to post retirement plan disclosures online.

Impact of covid 19 on retirement

Impact of the COVID-19 Pandemic on Your Medical and Retirement Plans

Fulcrum Partners. Human Resources

IslerDare is a legal firm dedicated exclusively to the representation of management in all aspects of labor, employment and employee benefits law. We frequently share their insights here on the Deferred Compensation Blog, and are pleased to provide you this link to their timely newsletter, “The Impact of the COVID-19 Pandemic on Your Medical and Retirement Plans,” and the excerpt featured below, which specifically addresses current IRS positions on issues that could result from the COVID-19 Pandemic. 

Compliance Calendar for Retirement Plans

March Compliance Calendar for Retirement Plans and Other Benefit Plans

Fulcrum Partners. Human Resources

Here is a checklist of 2020 compliance deadlines, covering retirement plans along with other health and welfare benefit plans. Thank you IslerDare PC for providing this information. Here are key March Deadlines for 2020: Date Action By March 1: File DOL1 Form M-1 for MEWA2s By March 2: Provide 2019 ACA3 information reporting returns (Forms 1095-B and 1095-C) to individuals By March 15: …