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 “Report on Executive Compensation Restrictions and the CARES Act from Fulcrum Partners”
April 14, 2020

Report on Executive Compensation Restrictions and the CARES Act from Fulcrum Partners

Bruce Brownell

PONTE VEDRA BEACH, FL — (April 14, 2020) Fulcrum Partners, a leading executive benefits advisory, has just released a new report on some potential consequences of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on executive compensation. As the report noted, the CARES Act, drafted with urgency to respond to the COVID-19 pandemic, lacks definitions and specificity in a number of important areas that pertain to executive compensation issues.
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Featured image for “Fulcrum Partners Releases Report on Impact of SECURE Act on NQDC Plans and Important Strategic Tax-Saving Solutions”
February 14, 2020

Fulcrum Partners Releases Report on Impact of SECURE Act on NQDC Plans and Important Strategic Tax-Saving Solutions

Bruce Brownell

Since the SECURE Act (Setting Every Community Up for Retirement Enhancement) was signed into law by President Donald Trump on December 20, 2019, much of the resulting conversation has focused on how the new law effects various aspects of 401(k) plans. Fulcrum Partners, a leading U.S. executive benefits advisory, has released a report focused on other important implications of the SECURE Act, specifically how it may impact nonqualified deferred compensation (NQDC) plans and retirement distribution elections.
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October 29, 2019

Fulcrum Partners Executive Benefits Hires Chief Administrative Officer

Bruce Brownell

PONTE VEDRA BEACH, FL — (October 29, 2019) Fulcrum Partners, executive benefits advisory, announces the hiring of Mike Powers, the firm’s new Chief Administrative Officer. Powers, who assumed the newly created role earlier this month, will manage the firm’s day-to-day operations and help facilitate strategic initiatives. Fulcrum Partners is one of the nation’s leading executive benefits consultancies and currently has more than $7 Billion in assets under management. With growth and expansion in all areas, the company has launched Enterprise 20/20, a forward-looking plan that is both strategic and tactical. “Essentially every aspect of our firm,” said Cofounder and Managing Director, Scott Cahill, “is impacted by Fulcrum Partners’ growth initiatives. The addition of a Chief Administrative Officer at this time is very important for us.” Mike comes to Fulcrum Partners with more than twelve years of experience, having served as the Executive Director, and prior to that the Vice President of Operations/Human Resources at an executive benefits and retirement consulting firm based in Ohio. Cofounder and Managing Director Bruce Brownell said, “Our blueprint for the decade ahead is vigorous. Given the growth and accomplishment Fulcrum Partners has achieved in the past twelve years, we are approaching 2020 prepared to maintain
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September 20, 2019

Fulcrum Partners Deferred Compensation News Update

Bruce Brownell

Read more about some of the most-popular recent posts here on Deferred Compensation News and Updates: Sixth Circuit Nonqualified Deferred Compensation Plan Decision Highlights Importance of Code Section 409A Compliance and ERISA (the Employee Retirement Income Security Act of 1974) Claims Procedures Attorneys Greg Daugherty and Dave Tumen of Porter Wright, shared insights on why being subject to ERISA may be a good thing for nonqualified deferred compensation plans, particularly with respect to resolving disputes and claims for benefits. As they explained, “Even if it is questionable whether an NQDC plan is subject to ERISA (i.e., because it arguably does not provide retirement benefits or covers only one person), sometimes it might make sense to include ERISA claims procedures and file a top hat letter.” #ReadMore: For an NQDC Plan, Being Subject to ERISA May Be A Good Thing Fulcrum Partners Managing Director Phil Currie Presented at PLANADVISER Conference Managing Director Phil Currie of Fulcrum Partners and Jeff Roberts CPC, Regional Channel Manager ADP Retirement Services were featured presenters at the PLANADVISER National Conference hosted this week in Orlando, Florida. Read the bio for each panelist in the slides below. [slideshare id=173939170&doc=planadvisersept2019003-190920003654] Fulcrum Partners Lends Its Support to the 5 Star Veterans Center and Daniel Kids Two 501(c)(3)
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August 28, 2019

Fulcrum Partners Makes Donations to Two Jacksonville-Based Nonprofit Organizations

Bruce Brownell

PONTE VEDRA BEACH, FL — (Aug 28 2019) The Ponte Vedra Beach, Florida office of Fulcrum Partners is supporting the efforts of two nonprofit organizations, both based in the Jacksonville area. As one of the largest privately held executive benefits consultancies in the US, Fulcrum Partners has 13 nationwide offices, where their managing directors are each committed to local, national or global charitable initiatives. Fulcrum Partners Ponte Vedra Beach, which is also the company’s headquarters, has extended its support to the 5 Star Veterans Center, an agency that assists veterans in need and to Daniel Kids, an organization that serves children in need and at-risk teens. Support from Fulcrum Partners for these two organizations has exceeded $20,000 in cash or goods for 2019. Five Star Veterans Center focuses specifically on veterans between the ages of 22 and 55 who are suffering from Post-Traumatic Stress Disorder, Traumatic Brain Injuries, Depression, Anxiety and other related mental health issues. The common goal for each veteran is re-integration into society. Approximately 30 residents currently reside at Five Star and participate in programs designed to help each veteran get back on his feet and reenter the workforce. Daniel Kids works primarily with referrals from Florida
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April 30, 2019

Fulcrum Partners Executive Benefits Represented at BDO Alliance USA Conference

Bruce Brownell

PONTE VEDRA BEACH, FL — (April 30, 2019) Managing Directors Bruce Brownell and G. Scott Cahill are representing Fulcrum Partners executive benefits consultancy at this week’s 2019 BDO Alliance USA Conference. The three-day event, which commenced April 29, 2019, is being hosted at the Cosmopolitan Las Vegas. In attendance are BDO Alliance USA member firms, respected BDO USA and International professionals and visionary leaders. Fulcrum Partners, one of the leading executive benefits advisories in the U.S., provides a variety of targeted client-support services to CPA firms, many of which are also members of the BDO Alliance USA. Scott Cahill, Fulcrum Partners Orlando, said, “We look forward to being part of this annual event because it affords us opportunities to network and learn, and most importantly to share with CPA member firms insights on how we can help them better serve their clients.” The theme of this year’s event is “Clear Choices” which reflects BDO USA’s four areas of focus: Exceptional Client Experience, Targeted Growth, Exceptional and Engaged People and Digital Transformation & Innovation. “Through a voluminous offering of over 85 technical and professional skills sessions,” explained Colleen Mhley, Marketing Director for the BDO Alliance USA, “participants will focus on making
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June 13, 2018

Executive Pay Isn’t Always Structured for Lifetime Optimization

Bruce Brownell

“Critical information that other benchmarking reports typically cannot provide…” FOR IMMEDIATE RELEASE PONTE VEDRA BEACH, FL — (June 13, 2018) Understanding executive pay over a lifetime can be a critical differentiator as companies compete for top talent and executives evaluate their opportunities. Two benefits plans may seem very similar at the onset of employment, yet over the years, they may yield strikingly different results. Recognizing the challenges of retirement economics, Fulcrum Partners executive benefits advisory is providing CEOs and other top executives with a unique, private webpage for quickly assessing whether their pay is structured for lifetime optimization. Bruce Brownell, Fulcrum Partners Ponte Vedra Beach, said, “Top-tier executives often see their pay and benefit plan and feel confident that they know what they are earning. But over the years, how and when they receive their pay impacts how much they actually net and the security of their post-retirement cash flow.” Fulcrum Partners, one of the largest executive benefits consultancies in the U.S., has launched one-click webpages designed to make it easy for top executives from publicly held companies to view how their plans stack up against the plans of others in their comparator group. An executive’s individual webpage can be
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May 08, 2018

Fulcrum Partners Supports the AALU Annual Meeting

Bruce Brownell

PONTE VEDRA BEACH, FLA — (May 8, 2018) Members of the senior leadership of Fulcrum Partners LLC, executive benefits advisory, were among the thought leaders and influencers participating in this year’s Annual Meeting of the Association for Advanced Life Underwriting (AALU). Held at the Marriott Marquis Washington, D.C., the three-day event kicked off on Sunday, April 29, and attracted top life insurance sales professionals, attorneys, CPAs, trust officers, and other financial and legal professionals. Representing Fulcrum Partners at the meeting were Managing Directors: Bruce Brownell, (Ponte Vedra Beach); G. Scott Cahill, (Orlando); Steve Broadbent (Atlanta) and Andrew Hart, (Washington D.C.). Andy Hart explained, “The opportunity to participate in professional development workshops, to meet and network with our peers, and to gain and share critical insights on how tax reform has impacted products such as corporate owned life insurance (COLI) are only a few of the reasons we participate in AALU conferences. Fulcrum Partners values the role the AALU plays addressing key issues of life insurance and tax reform, estate and gift tax reform, and industry regulation.” Political advocacy on behalf of the life insurance industry is at the core of AALU’s mission and a politically involved membership is central to
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May 02, 2018

Fulcrum Partners Executive Benefits, Supporting BDO Alliance USA CPA Firms

Bruce Brownell

PONTE VEDRA BEACH, FL — (May 2, 2018) Fulcrum Partners LLC, a nationwide executive benefits advisory, works in alliance with the select CPA member firms of the BDO Alliance USA. From May 7 through 9, Fulcrum Partners will be part of BDO’s 25th Anniversary Alliance Conference, to be hosted at the Bellagio, Las Vegas, Nevada. This year’s BDO Alliance conference welcomes over 1500 CPA Alliance Members, BRN Alliance Members, BDO USA Leadership and guests from BDO International Member Firms. Attendees will include best in class practitioners in the accounting profession, along with other members and program vendors who provide business development, marketing training and other valued services to support accounting professionals. Fulcrum Partners, an independent member of the BDO Alliance USA, is an executive benefit advisory with more than $6 Billion in assets under management. Serving executives and organizations with executive benefits and deferred compensation solutions, Fulcrum Partners also provides targeted services for CPA firms, including executive benefits and nonqualified deferred compensation consulting, executive disability and life insurance review, insurance policy audit and administration, bank owned life insurance (BOLI), business succession planning, and high net worth and estate planning. Colleen Mhley, Marketing Director for the BDO Alliance USA, said, “This
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December 12, 2017

A Unique Business Partnership Yields an Innovative Executive Benefits Advisory

Bruce Brownell

FOR IMMEDIATE RELEASE PONTE VEDRA BEACH, FL — (December 12, 2017) As a year-long celebration of a remarkable decade in business comes to a close, Fulcrum Partners LLC concludes its tribute to its managing directors by honoring the company’s founding office in Ponte Vedra Beach, Florida. Recognized as one of the largest and leading executive benefit advisories in the U.S., Fulcrum Partners has expanded over the past ten years from a single Florida-based office to thirteen nationwide locations. Founder and managing director Joseph A. Thompson launched the firm in 2007. Known for providing creative solutions to complex problems, Joe is a detail-driven, belt-and-suspenders kind of business professional, who never enters a room without an egress plan in mind. Many of his peers recognize him as a pioneer in the field of executive compensation and rely on him for his knowledge and in-depth understanding of corporate tax structures. With 44 years of industry experience, Joe is a cornerstone of the company, and is largely responsible for Fulcrum Partners laudable position in the industry today. “The opportunities I have had,” said Joe, “consulting with countless businesses in an extensive range of industries and providing financial advisory services have been exciting and fulfilling.
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