Small Business Loan Form Concept

CESA Act Loans: Further Information and Insights

Fulcrum Partners Executive Benefits News

The Coronavirus Economic Stabilization Act (CESA) was established to provide loans and loan guarantees for businesses to improve business liquidity resultant from the COVID-19 pandemic. Unlike the widely publicized Payment Protection Program (PPP), CESA Act loans do not include loan forgiveness. They do include substantial penalties, however, if terms of the loan agreement are breeched.

COVID-19 and nonqualified deferred compensation plans

Further Insights on COVID-19 and Nonqualified Deferred Compensation Plans

Fulcrum Partners Deferred Compensation News

Deferred Compensation News is pleased to provide this Fulcrum Partners report, prepared and originally published by Principal Life, a member of the Principal Financial Group®. With socioeconomic and regulatory landscapes changing day by day and sometimes hour by hour, both plan providers and plan participants are faced with new and unexpected issues.

Does Furlough Constitute a Separation from Service Under IRC 409A

Does Furlough Constitute a Separation from Service Under IRC 409A

Fulcrum Partners Deferred Compensation News

The COVID-19 pandemic has brought operational challenges and financial strain to businesses in every sector. While some organizations have terminated employees, other businesses have been able to furlough some of, or all, their workforce instead. How the employer handles the furlough is important for many reasons, including how the guidelines of Internal Revenue Code Section 409A (IRC 409A) impact decisions made by both employer and employee.

covid unforeseen 409

COVID-19 and the Unforeseen Financial Emergency Under IRC 409A

Fulcrum Partners Deferred Compensation News

Internal Revenue Code Section §409A (IRC 409A) regulations govern the design and administration of nonqualified executive benefit plans. Nonqualified executive benefit plans have very specific rules on the form and timing of participant distributions and, generally, offer little flexibility on changing the form or timing of the distributions following the submission of the election form. One of the exceptions in the 409A regulations for altering previously submitted distribution elections is addressed under the unforeseeable emergency provisions.

Save More “Help Your Clients’ Key Employees Bridge the Retirement Gap,”

Save More than a 401(k) or 403(b) Plan Allows

Fulcrum Partners Deferred Compensation News

A nonqualified deferred compensation plan (NQDC) allows employees to save above and beyond the limits of a 401(k) or 403(b) plan. Plus, employees may be able to take advantage of tax benefits not offered with other savings options. Unlike a deferred comp plan, a 401(k) plan, 403(b) plan and Individual Retirement Accounts (IRAs) have limits on how much the employee …

FULCRUM WHITE PAPER 409A and 457

Substantial Risk of Forfeiture: IRC 409A and 457

Fulcrum Partners Executive Benefits News, Fulcrum Partners NEWS

Summary: Substantial Risk of Forfeiture, IRC 409A and 457.  After the U.S. Treasury announced changes and modifications to Sections 409A and 457 of the Internal Revenue Code this past June, it also initiated a standard period during which comments could be filed regarded the proposed changes. The deadline for submitting comments to the IRS, regarding modifications to Sections 409A and 457, closed on September 20, …

nonqualified-deferred-compensation-plan

Taxes at the Optimal Time. Your Need for a Nonqualified Deferred Compensation Plan

Fulcrum Partners Executive Benefits News

Taxes … at the Optimal Time YOUR NEED FOR A NONQUALIFIED DEFERRED COMPENSATION PLAN A nonqualified deferred compensation plan, NQDC, can provide you flexibility and control in planning when you receive compensation payouts. Income taxes on the payments received are not paid until the year you receive your money. By choosing to defer distributions while you are working (and your tax rate is potentially higher), you can …

Your Need for a Nonqualified Executive Benefits Plan

Your Need for a Nonqualified Deferred Compensation Plan

Fulcrum Partners Executive Benefits News

YOUR NEED FOR A NONQUALIFIED DEFERRED COMPENSATION PLAN Bridging the Gap … A nonqualified deferred compensation plan, NQDC, can serve an important function in helping to fill the significant gap between the combined amount of your social security retirement benefits plus your qualified retirement benefits and the amount of retirement savings you will need in order to replace your current …

More on How Section 409A Rules

More on How Section 409A Rules Impact Nonqualified Deferred Compensation Plans

Fulcrum Partners Executive Benefits News

The following update was prepared by IslerDare PC and is shared here with their permission as Fulcrum Partners continues to provide education and insight on the changes and clarifications to Section 409A Rules and Section 457 Rules. You may download this report on the Resources Page (New Section 409A Rules Impact Nonqualified Deferred Compensation Plans) of the Fulcrum Partners website. You may also view or …

FULCRUM WHITE PAPER 409A and 457

White Paper: 409A and 457 Updates That Will Impact Your Deferred Compensation

Fulcrum Partners Executive Benefits News, Fulcrum Partners LLC White Paper

White Paper: 409A and 457 Updates That Will Impact Your Deferred Compensation IRS Proposed Changes Deferred Compensation Rules 2016 409A and 457 Updates The US Treasury Department and the Internal Revenue Service have issued proposed guidance and new regulations on deferred compensation arrangements under Sections 409A and 457 of the Internal Revenue Code. These actions were published June 22, 2016, in the …