Yesterday, in Deferred Compensation News, we looked at results from the KPMG 2020 CEO Outlook, a study conducted in January and February of 1,300 CEOs, followed this summer by re-surveying 315 of the participants. If you missed yesterday’s news, you’ll want to read Part I of “Top CEO Concerns Post-COVID-19: Talent and Corporate Responsibility,” where we published how survey respondents …
Today we are publishing the first of a two-part look at the 2020 KPMG CEO Outlook. This study was conducted in two steps: the initial interview of more than a thousand CEOs of top organizations, conducted pre-COVID-19, with a follow-up involving over 300 respondents late this summer. Among the most noteworthy of the survey’s finding is the fact that in …
Taxpayers who have already taken their required minimum distribution, RMD, for 2020, have the option for an RMD Rollback under the CARES Act if taken by August 31, 2020. The intention of this option is to provide tax relief for those who took their required RMD prior to the Coronavirus Aid, Relief, and Economic Security (CARES) Act becoming law on March 27, 2020 and wish to ‘undo’ their action.
Is your organization prepared to be accountable to stakeholders (and the marketplace) for its human capital management policies and practices? If your company is still looking at human capital as a cost and not an asset, brace yourself for a dramatic perspective shift. As Michael S. Melbinger, attorney and author of the Executive Compensation Blog, has observed, “the COVID-19 pandemic has pushed human capital issues to the fore like never before.”
PONTE VEDRA BEACH, FL — (August 13, 2020) Fulcrum Partners, a leading executive benefits advisory, announces the publication of “Will New 401(k) Compliance Testing Issues Arise Because of COVID-19 Workforce Changes?” The white paper, written by Fulcrum Partners Managing Director and Partner, Steve Broadbent, examines how the COVID-19 pandemic is creating challenges for plan sponsors required to perform specific nondiscrimination tests on the 401(k) plans they offer employees.
Would you be interested to see how organizations are adapting their incentive compensation performance metrics in the face of a global pandemic? The attorneys at Winston & Strawn have compiled an extensive chart showing changes organizations are making, including the rationale behind their decisions.
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.
Fulcrum Partners, one of the largest independent executive benefits consultancies in the U.S., announces the availability of Deferred Compensation News on a no-cost, subscription basis. Previously offered only as an online publication, Deferred Compensation News is now available for direct email delivery.
Attorney Mike Melbinger, Partner in Winston & Strawn’s Chicago office, brings perspective to this ICS/ISS illustration model of how a sample company might choose to adjust annual goals for incentivizing executives. As Mike points out this topic, “will affect nearly every company in corporate America”.
On June 19, 2020, the Internal Revenue Service (IRS) updated and clarified issues of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) guidance for plan sponsors and plan participants. Issued as Notice 2020-50 (“Guidance for Coronavirus-Related Distributions and Loans from Retirement Plans Under the CARES Act,”) the publication explains the new provisions which allow enhanced access to plan loans and plan distributions.