Andrew Liazos
Subscribe to Andrew Liazos's PostsAndrew C. Liazos is the global chair of McDermott’s Benefits & Compensation Practice Group and has practiced at McDermott for over 25 years. Andrew focuses his practice on compensation and benefit matters, including related securities, M&A, IPO, private equity, international and litigation matters. Clients range from Fortune 500 companies to compensation committees to individual executives in employment and severance negotiations. Read Andrew Liazos' full bio.
Proposed Changes to § 409a Regulations: Greater Clarity and Better Planning Alternatives
By Andrew Liazos and Allison Wilkerson on Jun 22, 2017
Posted In Employee Benefits, Executive Compensation
Andrew Liazos and Allison Wilkerson wrote this bylined article on Tax Code Section 409A’s deferral and payment requirements for nonqualified deferred compensation plans. Recent IRS Section 409A guidance makes “several helpful changes that employers will want to consider and take advantage of,” the authors wrote, and they warned employers that they ignore final IRS “at...
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District Court Dismisses Shareholder Claim that Equity Award Share Withholding Triggers Section 16(b) Liability
By Andrew Liazos, Eric Orsic and Thomas P. Conaghan on Jun 13, 2017
Posted In Benefit Controversies, Employee Benefits, Employment, Executive Compensation
A US District Court recently dismissed a claim that an insider’s election to satisfy an income tax obligation by having shares withheld from the delivery of an award constituted a non-exempt sale of shares back to the issuer for purposes of Section 16(b) of the Exchange Act, unless the share withholding was required, rather than...
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State-Run Retirement Plans – What Labor Allowed
By Andrew Liazos on May 2, 2017
Posted In Employee Benefits, Retirement Plans
With approximately 68 million US employees without access to a retirement savings plan through an employer, there has been increased movement by states to sponsor retirement type arrangements for private sector employees. Partner Andrew Liazos presented “State-Run Retirement Plans – What Labor Allowed” discussing insights and strategies for retirement, health and executive compensation plans. He...
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Proposed Changes to 409A Regulations Provide Greater Clarity and Planning Alternatives
By Andrew Liazos and Allison Wilkerson on Dec 27, 2016
Posted In Benefit Controversies, Executive Compensation
On June 22, 2016, the Internal Revenue Service (IRS) issued proposed regulations to modify and clarify existing regulations under Section 409A of the Internal Revenue Code. The proposed changes were in response to practitioner comments and the IRS’s experience with Section 409A after the issuance of the final regulations in 2007. Overall, the proposed modifications are...
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A Critical Assessment of the Reporting and Disclosure Rules Applicable to Executive Compensation
By Andrew Liazos on Dec 20, 2016
Posted In Executive Compensation
On November 9, 2016 Andrew Liazos presented at the New York City Bar. He discussed innovative approaches used by public companies during the 2016 proxy season for disclosing executive compensation practices. Andrew addressed the changes in practices for disclosing director compensation in light of director pay lawsuits and CEO pay ratio disclosures that were made...
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Second Court of Appeals Win for State Street Bank in $200 Million Chrysler “Top Hat Plan” Class Action
By Andrew Liazos and Wilber H. Boies, PC on Dec 7, 2016
Posted In Benefit Controversies, Retirement Plans
“Top hat plans” have many attractive features, but a new court decision is a reminder that top hat plan participants have limited protections under ERISA – and that assets held in a rabbi trust are not protected from the claims of creditors upon the employer’s bankruptcy or insolvency. Our client, State Street Bank and Trust...
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Transactions Update: Purchase Price or Compensation
By Andrew Liazos on Oct 26, 2016
Posted In Benefit Controversies, Executive Compensation
Some companies have considered buying back stock from current and former employees when a liquidity event, such as a sale of the company or an IPO, is unlikely to occur. The attached presentation made by Mr. Liazos before the Executive Compensation Subcommittee of the ABA Tax Section addresses the tax issues to consider when structuring...
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Maintaining Retirement Plan Documents after Revenue Procedure 2016-37
By Andrew Liazos on Oct 13, 2016
Posted In Employee Stock Ownership Plans (ESOPs), Retirement Plans
At the 2016 Joint Fall CLE Meeting on October 1, 2016, Andrew Liazos presented on “Maintaining Retirement Plan Documents after Revenue Procedure 2016-37.” As an employer sponsoring a retirement plan, you are required by law to keep your books and records available for review by the IRS. Having these records will also facilitate answering questions...
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Review of Section 409A Proposed Regulations
By Andrew Liazos on Aug 9, 2016
Posted In Benefit Controversies, Employment, Executive Compensation, Retirement Plans
On June 22, 2016, the Internal Revenue Service (IRS) issued proposed changes to the regulations under the Internal Revenue Code (Code) §409A. The Code intends to clarify or modify a wide range of very restrictive rules pertaining to “nonqualified” deferred compensation plans as well as other types of compensation arrangements that may defer compensation. The...
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A Blueprint for Maintaining an Individually Designed Qualified Plan after the IRS’s Determination Letter Program Cutback
By Andrew Liazos on Aug 2, 2016
Posted In Retirement Plans
On June 29, 2016, the Internal Revenue Service (IRS) officially sounded the death knell for the five-year remedial amendment cycle with its release of Revenue Procedure 2016-37. Effective January 1, 2017, employers that sponsor an individually designed qualified retirement plan—a group that includes most large retirement plans—may no longer request periodic determination letters. Instead, the IRS will continue...
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