Deferred Compensation News and Updates

Deferred Compensation News brings you the latest information and insights on 409A nonqualified deferred compensation; institutional COLI, BOLI, and ICOLI; tax-and cost-efficient non-COLI funding strategies; low-cost tax managed non-COLI asset/liability designs; executive benefits benchmarking; succession planning and timely issues of executive pay and benefits. 
Featured image for “Key August Employee Retirement Benefit Deadlines”
August 06, 2021

Key August Employee Retirement Benefit Deadlines

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As we prepare for the final month of summer, August arrives with new deadlines. Thank you, as always, to our friends at IslerDare PC for providing us timely reminders and permitting us to share them with readers of Deferred Compensation News.
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May 11, 2021

Plan Participants Guidance from Employee Benefits Security Administration

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Following our Deferred Compensation News post from last week, “Cybersecurity for Your Defined Benefit Plan”, IslerDare PC has provided a relevant update on recent Employee Benefits Security Administration (EBSA) security updates from the Department of Labor (DOL).
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April 23, 2021

May 2021 Benefits Deadlines

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Benefit filing deadlines for May 2021, courtesy of Isler Dare.
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April 17, 2021

CFO Decision Making: Integrating Executive Benefits into Employee Engagement

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In a post-2020 landscape, what changes to the design and purpose of executive benefit plan design impact CFO decision making? A look at NQDC advantages and benefit success strategies.
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Featured image for “Fulcrum Partners Reports on Executive Benefits Post 2020”
March 16, 2021

Fulcrum Partners Reports on Executive Benefits Post 2020

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Fulcrum Partners, a OneDigital Company, has released a new report, “CFO Decision Making: Integrating Executive Benefits into Employee Engagement.”
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February 05, 2021

Benefit Deadlines Checklist

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Benefit deadlines checklist including retirement plan recordkeeper must-dos for February 2021.
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March 19, 2020

Impact of the COVID-19 Pandemic on Your Medical and Retirement Plans

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IslerDare is a legal firm dedicated exclusively to the representation of management in all aspects of labor, employment and employee benefits law. We frequently share their insights here on the Deferred Compensation Blog, and are pleased to provide you this link to their timely newsletter, “The Impact of the COVID-19 Pandemic on Your Medical and Retirement Plans,” and the excerpt featured below, which specifically addresses current IRS positions on issues that could result from the COVID-19 Pandemic. 
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Featured image for “February Compliance Calendar for Retirement Plans and Other Benefit Plans”
January 31, 2020

February Compliance Calendar for Retirement Plans and Other Benefit Plans

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Thanks IslerDare PC for providing a checklist of 2020 compliance deadlines, covering retirement plans along with other health and welfare benefit plans. #retirementplan #fulcrumpartners #SECUREAct
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Featured image for “Coach Harrick Will Tell You: Retirement Means Living Life on Your Own Terms”
April 04, 2019

Coach Harrick Will Tell You: Retirement Means Living Life on Your Own Terms

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For a man that loves the game of basketball, you might think that thirty-plus years of college coaching, taking Division I college teams to the NCAA tournament 16 times, and winning it all by leading UCLA to the National Championship in 1995 would be enough. You might think Coach Jim Harrick would look back on his many legendary accomplishments and say, “I am going to relax and maybe play a little golf in my retirement.” On July 25, Jim Harrick will be 81 years old. While he does get on the golf course regularly, he’s also wrapping up his first season  as an Assistant Coach of the Cal State University Northridge men’s basketball team. This past year, the CSUN Matadors, in rebuilding mode, finished with 13 wins, more than twice the number they had in the previous season. They logged victories over Pepperdine, Tennessee State, Rider and took Yale to overtime before losing 94-90. And next year, under head coach Mark Gottfried and assistants Jeff Dunlap, Mo Williams, and Jim Harrick, they’ve set their sights on even greater accomplishments as they focus on the team’s continued growth as a program and the personal development of each student athlete. At nearly
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March 28, 2019

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

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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 can save each year. Additionally, 401(k) and 403(b) plans are subject to nondiscrimination testing that can limit the amount of employee and employer contributions to the plan. 2019 savings limits for different retirement plans 401(k) or 403(b) retirement plans: $125,000 of wages earned in the preceding year classifies an employee as highly compensated. Various statutory or testing limits with 401(k) or 403(b) plans may limit deferrals (1.25%/2.0% nondiscrimination limit). $19,000 maximum deferral ($25,000 if age 50 or older). Total amount of organization and employee contributions limited to $56,000. $280,000 maximum eligible compensation limit. Defined benefit plans: $225,000 maximum annual benefit. $280,000 maximum eligible compensation limit. Individual Retirement Accounts: $6,000 maximum contribution ($7,000 if age 50 or older). Employees with modified adjusted gross income above certain amounts (depending on filing status) cannot deduct contributions to  an IRA account if participating in
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