NQDC report

Further Insights on the NQDC Guide

Fulcrum Partners Deferred Compensation News, Fulcrum Partners News

Following up on our July blog post, “Updates on the Nonqualified Deferred Compensation Audit Technique Guide,” we are pleased to share with you these further insights from Attorneys Greg Daugherty, Dave Tumen and Rich Helmreich of PorterWright. They raise the interesting question of whether the recent update of the NQDC Guide foreshadows the coming of other critical changes in executive compensation enforcement.

Unfunded NQDC Plans

Understanding Funded vs. Unfunded NQDC Plans

Fulcrum Partners Deferred Compensation News, Fulcrum Partners News

The recent IRS publication, Nonqualified Deferred Compensation Audit Technique Guide was created to help IRS examiners during audits. As a result, it also becomes a helpful resource for organizations seeking to ensure their compliance with 409A and other tax code regulations that may impact deferred compensation. The following excerpt from the document provides information on distinctions and requisites of funded vs. unfunded NQDC plans.

nonqualified deferred compensation

Updates on the Nonqualified Deferred Compensation Audit Technique Guide

Fulcrum Partners Deferred Compensation News

On June 1, 2021, the IRS officially completed its revisions to its Nonqualified Deferred Compensation Audit Technique Guide. The updated guide is a useful reminder of how very important it is for companies to maintain careful documentation and recordkeeping and of the importance of strong compliance safeguards and attention to public company disclosure with the Securities and Exchange Commission.

employee financial stress

Employee Financial Stress Takes a Toll on the Workplace

Fulcrum Partners Human Resources, Fulcrum Partners News

Employee financial stress isn’t something that workers can compartmentalize or think about only in their non-working hours. In fact, fifty percent of American employees surveyed say they spend three or more hours of their time at work each week dealing with personal financial issues with twenty percent of that group spending as much as five hours weekly.

nonqual deferred compensation

It’s One of the Most Talked-About Nonqual Deferred Compensation Agreements in Sports

Fulcrum Partners Fulcrum Partners News

It’s July 1, and former Major League Baseball player, Bobby Bonilla, just banked another million or so of the estimated $29 million he draws from his extremely well-designed nonqual deferred compensation agreement with the New York Mets. Bobby Bonilla had a sixteen-year run in professional baseball. After helping the Pittsburgh Pirates take National League East Division titles in 1991 and 1992, Bonilla was acquired by the New York Mets, signing a five-year, 29-million-dollar contract. At the time, it made Bonilla the highest paid player in the National League.

Diversity in the boardroom

Diversity in the Boardroom, a Look at America’s Largest Companies

Fulcrum Partners Fulcrum Partners News

ISS Corporate Solutions, Inc. (ICS), a provider of compensation, governance, and sustainability tools and advisory services to help companies improve shareholder value and reduce risk, published the results of its recent analysis of diversity in the boardroom of S&P 500 companies. The report covered the period from July 1, 2020, to May 19, 2021, and showed that 54 percent of newly appointed directors were white while 32 percent were black.

Steve Broadbent

Fulcrum Partners SVP Advocates for Increased Public Safety

Fulcrum Partners Fulcrum Partners Media Releases

Steve Broadbent, Senior Vice President, Retirement, at Fulcrum Partners, a OneDigital Company, saw his advocacy for increased public safety in Johns Creek, Georgia, come to fruition with the ribbon cutting of Fire Station 64. The new fire station is intended to significantly improve the fire department’s service delivery and response time in the northern and west central areas of Johns Creek, an Atlanta suburb.