Several studies continue to show the importance of nonqualified deferred compensation (NQDC) plans to attract and retain executive level talent for employers. See Study Shows The Need For Nonqualified Plans To Attract And Retain Talent. SECURE 2.0 also contains a provision that may encourage the use of NQDC plans. It provides that after 2023
A new survey conducted by Newport Group and PLANSPONSOR shows a dramatic increase in the use of nonqualified deferred compensation (NQDC) plans to retain and attract executives. Of 350 organizations offering NQDC plans, 42% said that was the reason for offering them. This is up from 26% in the 2020 survey. The survey also found
This is the third and final installment of the effects of Covid-19 Pandemic (Pandemic) on executive compensation of private companies. Part 1 discussed the issues of reducing compensation of Executives. See Part 1. Part 2 discussed issues with deferred compensation plans of Executives. See Part 2. This Part 3 deals with limits on
Executives often participate in various nonqualified deferred compensation plans designed to reward upper management. These can be simple plan designs such as electively deferring a portion of their salary or bonus until a later year. Or the plan can be more complicated such as awards of phantom stock or stock appreciation rights that will pay
Rank and file employees who may have lost their job or had hours reduced probably don’t care about the effects of the economic downturn resulting from the COVID-19 Pandemic (Pandemic) on executives and key management employees. However, business owners who have provided such employees with employment agreements, deferred and/or incentive compensation, and perhaps equity or
In 1989’s film Back to the Future II, Marty McFly rides a hoverboard (flying skateboard) to escape Griff Tannen and his gang of teenage thugs in the year 2015. Well
The 2017 Tax Act enacted section 4960 to the Internal Revenue Code, a new provision imposing a 21% tax on “applicable tax