Top Hat Plans: What Executives and Organizations Need to Know

Top Hat Plans: What Executives and Organizations Need to Know…and Why

Fulcrum Partners. Deferred Compensation News

This past January, the U.S. Government Accountability Office (GAO) published its initial findings after conducting a review of executive retirement plans, specifically, top hat plans. The study came in response to a request filed by U.S. Senators Ron Wyden (Oregon), Bernie Sanders (Vermont), and Patty Murray (Washington).

This article looks at 1.) the GAO’s report; 2.) the final rulings by the U.S. District Court in the class action lawsuit of Berry v Wells Fargo & Co; and, 3.) the implications of both on Top Hat plans in general.

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Required Electronic Filing of Top-Hat Submissions

Fulcrum Partners. Human Resources

Fulcrum Partners is sharing this reminder from the team at IslerDare PC regarding the electronic filing of top-hat submissions. The August 2019 issue of Employees Benefits Update includes the following information: “Top-hat plans, which are unfunded plans that allow a select group of highly-compensated employees to defer compensation, must file a letter with the Department of Labor within 120 days …

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#ICYMI Understanding Top Hat Plans

Fulcrum Partners. Executive Benefits News

Don’t Put Away Your New Year’s Eve Top Hat Just Yet! Over the past five-plus years of publishing Deferred Compensation News, (previously known as Fulcrum Partners News), no topic has ever attracted as many views or as much traffic as that of “Top Hat Plans.” In November 2018, the AALU Washington Report addressed some of the challenges and lack of clear …


Understanding Top Hat Plans

Fulcrum Partners Executive Benefits News

Executive benefits consulting firm, Fulcrum Partners LLC, is pleased to distribute this AALU Washington Report to its clients and friends. You can read the full report here or download it as a PDF:  Top Hat Plans. This continuing series of articles is intended to provide deep insight into trends, events, and issues that impact the design and operation of nonqualified …

DOL Reiterates Its Stance on Top Hat Plans

Fulcrum Partners Executive Benefits News

DOL Reiterates Its Stance on Top Hat Plans In an article written by Rebecca Moore (published in PlanSponsor), Moore provides insights on Department of Labor positions and two lawsuits in which former employees of Marriott International argued that the deferred stock bonus awards (Retirement Awards) program in which they participated was not a top hat plan and was subject to ERISA …