deferred compensation plans Archives - EMPLOYEE BENEFITS BLOG

Family Office Tax Webinar Replay: Compensation Strategies

by Patrick J. McCurry and Thomas Ward | Apr 11, 2024 | Employee Benefits, Executive Compensation, Retirement Plans

Taxes can have a significant impact on family offices, influencing decisions around structure, investing and overall planning strategies. McDermott’s Family Office Tax webinar series explores the latest trends and guidance on tax planning for family offices and identifies opportunities to optimize tax efficiency.

Our first webinar covered the legal, tax and administrative considerations a family office faces when creating incentive and deferred compensation plans for employees. Discussion topics included:

Compensation strategies as tools to use in competing in the “war for talent”
Long-term incentive arrangements to reward performance and foster retention
Leveraged and non-leveraged co-investment opportunities
Benefits of carried interest, phantom equity and profit sharing

Access the webinar.

The Fiduciary Duties of 457(b) Plans and How to Mitigate Potential Risks

by Todd Solomon | May 19, 2022 | Employee Benefits, Executive Compensation, Fiduciary and Investment Issues, Retirement Plans

Fiduciaries of 403(b), 401(a) and 457(b) retirement plans have come under increased scrutiny in recent years, in part due to participant lawsuits filed against plan sponsors and the resulting media attention. In this presentation with the 457 Consulting Group, McDermott Partner Todd Solomon discusses the fiduciary duties of plan sponsors and how to mitigate potential risks. The content in these slides applies to governmental 457(b) plans.

Access the slides.

An Overview of the New Section 457(f) Regulations

by Joseph K. Urwitz and Ralph E. DeJong | Nov 3, 2016 | Benefit Controversies, Employee Benefits, Employment, Executive Compensation

On June 22, 2016, the Internal Revenue Service (IRS) issued proposed regulations under Section 457(f) of the Internal Revenue Code of 1986, as amended (Code). These long-awaited regulations were first previewed in IRS Notice 2007-62. In that Notice, the IRS announced its intention to issue proposed regulations that would harmonize the rules for deferred compensation plans of tax-exempt organizations (and state and local governments) under Section 457(f) with the then-new special rules for all deferred compensation arrangements under Section 409A. After nine years, the proposed regulations now issued address three principal issues, although with some unexpected changes and opportunities.

Read the full article here.