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. Click here to read all recent articles related to the impact of the COVID-19 Pandemic.
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October 01, 2021

Proposed Form 5500 Revisions & Checklist of October Plan Deadlines

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Fulcrum Partners is pleased to share the following report, prepared by the Employee Benefits group at Isler Dare PC: Checklist of October Plan Deadlines for Retirement, Medical, and Other Plans.
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July 31, 2020

SEC Final Rules for Proxy Voting Advice Businesses

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The rules are changing for Proxy Voting Advice Businesses (PVAB), with approval by the SEC of new guidelines. The SEC’s final rule statement (published July 22, 2020) explains, “The Securities and Exchange Commission (“Commission”) is adopting amendments to its rules governing proxy solicitations so that investors who use proxy voting advice receive more transparent, accurate, and complete information on which to make their voting decisions, without imposing undue costs or delays that could adversely affect the timely provision of proxy voting advice.
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June 15, 2020

Safe Harbor for Retirement Plans: Electronic Disclosure Approved

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Earlier this month we shared Electronic Disclosure Safe Harbor for Retirement Plans, providing an overview of the Department of Labor’s final regulations permitting electronic disclosure via email and website publication as the default method for sending employee retirement plan notices.
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May 29, 2020

Electronic Disclosure Safe Harbor for Retirement Plans

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Last week, the Department of Labor (DOL) finalized regulations for the new “notice and access” safe harbor for retirement plans. Known as “NOA Safe Harbor,” the new guidelines permit plan administrators to send required disclosures to plan participants and beneficiaries via email or other electronic means, including allowing employers to post retirement plan disclosures online.
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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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December 06, 2019

December Checklist of Compliance Deadlines for Retirement Plans and other Benefits

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Thank you, Isler Dare PC, for sharing this checklist for December, reminding employers of some of the key yearend compliance deadlines for health, welfare, and retirement plans.
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November 19, 2019

November Checklist of Compliance Deadlines for Retirement Plans and other Benefits

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Thank you, Isler Dare PC, for sharing this checklist, reminding employers of some of the key yearend compliance deadlines for health, welfare, and retirement plans.
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November 05, 2019

DOL Proposes New Retirement Plan Electronic Disclosure Rule

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The team at Fulcrum Partners shares this important update from IslerDare PC, on the proposed new retirement plan electronic disclosure rule, from the Department of Labor (the DOL), regarding the allowance of online retirement plan disclosures.
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November 20, 2018

2018 Year-End Compliance Checklist Employment Benefit Plans Isler Dare

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This checklist of end-of-year employee benefits compliance deadlines is provided courtesy of Isler Dare PC (www.islerdare.com) and was written by Andrea I. O’Brien, Vi D. Nguyen, and Ashley F. Hedge. 2018 Year-End Compliance Checklist As 2018 quickly comes to a close, we wanted to remind employers of some key year-end compliance deadlines for their retirement and health and welfare plans. DEADLINE:  November 15, 2018 SBCs and Health Plan Notices You should distribute a Summary of Benefits and Coverage (“SBC”) for each group health plan option that you offer. Also, if you have not already provided the following documents to employees (or other required recipients) during open enrollment or at some other time this Fall, you should distribute: An updated CHIP notice (Children’s Health Insurance Notice) The annual notice required under the Women’s Health & Cancer Rights Act A Medicare Part D notice A notice of “grandfathered plan status” under the ACA (Affordable Care Act or Obamacare) (if applicable) A HIPAA (Health Insurance Portability and Accountability Act of 1996) notice of privacy practices for any self-funded plans, or a statement describing the availability of the HIPAA notice of privacy practices and where the notice can be accessed The ADA (American Disabilities
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February 17, 2017

IRS Proposes to Relax Rules Permitting Forfeitures to Fund 401(k) Plan Safe Harbor Contributions

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IRS Proposes to Relax Rules Permitting Forfeitures to Fund 401(k) Plan Safe Harbor Contributions The following report was published by IslerDare PC (www.IslerDare.com) and is republished here with their permission. Note: Mentions in this article of the IRS refer to the Internal Revenue System (IRS). IRS Proposes to Relax Rules Permitting Forfeitures to Fund 401(k) Plan Safe Harbor Contributions and to Correct Operational and Nondiscrimination Test Failures Executive Summary The IRS recently proposed regulations that would permit employers to use forfeiture accounts to fund or offset safe harbor contributions and to correct operational and nondiscrimination test failures. This represents an important relaxation of the IRS’s somewhat controversial position and, if finalized, would be a welcome change providing enhanced flexibility for employers. What You Should Do Consult with your vendors and review the terms of your 401(k) plan to determine if changes need to be made to your services agreement or plan document to allow you to use forfeitures to fund safe harbor contributions or to correct operational and nondiscrimination test failures, either now or when the proposed regulations are finalized. Background In recent years, many employers have structured their 401(k) plans as “safe harbor” plans, which provide a certain level
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