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Deadline for RMD Rollback Under CARES Act is August 31

Fulcrum Partners. Deferred Compensation News

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.

What is Nonqualified Deferred Compensation and Why Do Companies Use It?

What is Nonqualified Deferred Compensation and Why Do Companies Use It?

Fulcrum Partners. Deferred Compensation News

A nonqualified deferred compensation plan (NQDC) is an unsecured promise made by an employer to pay compensation to key employees at a prespecified time in the future or upon the occurrence of a predetermined event. An NQDC plan is also one of the most powerful tools available to employers for recruiting, retaining, and rewarding key employees.