Code Section 162(m) An Overview of Performance-Based Compensation
|
|
- Marianna Thornton
- 5 years ago
- Views:
Transcription
1 Employee Benefits & Executive Compensation Client Alert October 2008 Code Section 162(m) An Overview of Performance-Based Compensation Code Section 162(m) limits the amount of annual compensation that may be deducted by a public company for each of its top four executives to $1 million. Certain types of compensation are not subject to the limit, including compensation that is performancebased within the meaning of IRS regulations. The following summarizes the requirements for the performance-based exception. 1 Performance-Based Exception General Requirements Generally, compensation will be deemed to be performance-based if it meets the following requirements: The compensation must be paid solely on account of attainment of one or more pre-established performance goals, pursuant to an objective compensation formula; The performance goal(s) must be established by a compensation committee comprised solely of two or more outside directors; The compensation must be paid pursuant to a shareholder-approved plan; and The compensation committee must certify, in writing, prior to payment of the compensation that the performance goal(s) and any other material terms were satisfied. Each of these requirements is described in more detail below. 1 This overview does not address determining which executives are covered employees whose compensation is subject to the Code Section 162(m) limit. It also does not address stock options or stockappreciation rights. Stock options and stock-appreciation rights will generally satisfy the exception for performance-based compensation, if they are granted with an exercise price that is at least equal to grant date fair-market value, and granted by outside directors pursuant to a shareholder-approved plan that contains a limit on the maximum number of options or stock-appreciation rights that may be granted to any covered employee in a period. Emnployee Benefits & Executive Compensation Practice Group
2 Pre-established Performance Goals A performance goal is considered pre-established only if it is established in writing by the compensation committee no later than 90 days after the beginning of the period of service to which it relates. The outcome must be substantially uncertain at the time the performance goal is established. The performance goal must be objective, which means that a third party, having knowledge of the relevant facts, could determine if the goal is met. The performance goal must state, pursuant to an objective formula or standard, the method for computing the amount of compensation. The terms of the objective formula must preclude discretion to increase the amount of compensation (negative discretion is permitted). If the formula is stated as a percentage of salary or base pay, either the amount of salary or base pay has to be fixed at the time the goal is established, or the plan has to include a maximum dollar amount that can be paid. Payment must be contingent on attainment of the performance goal. Payment will not be considered contingent if facts and circumstances indicate the employee would receive all or part of the compensation regardless of whether the performance goal is attained. The plan may include a feature that pays a certain amount of compensation in the event of death, disability or change of control, regardless of whether the performance goals are attained. However, any payments made due to these circumstances will not be performance-based. The IRS issued a revenue ruling in early 2008 advising employers that this exception will no longer extend to amounts paid without regard to attainment of the performance goals on retirement or involuntary termination of employment. The revenue ruling is generally effective for performance periods beginning after Jan. 1, Compensation Committee The performance goals must be established by a committee consisting of two or more outside directors. Generally, a director is considered an outside director if all of the following requirements are satisfied: The director is not a current employee of the company. The director is not a former employee of the company who is receiving compensation for prior services (other than under a tax-qualified retirement plan). The director has not been an officer of the company. The director does not receive remuneration from the company, either directly or indirectly, in any capacity other than as a director. The regulations contain complex rules for determining when this requirement is met.
3 Shareholder Approved Plan The material terms of the plan must be disclosed to and approved by shareholders before the compensation is paid. This requirement is not satisfied if the compensation would be paid regardless of shareholder approval. Material terms that must be disclosed include the employees eligible to receive compensation, a description of the business criteria on which the performance goal is based, and either the maximum amount of compensation that could be paid to any employee or the formula used to calculate the amount of compensation. It is not necessary to disclose the specific targets that must be satisfied under the performance goal. The disclosure must be specific enough that a shareholder can determine the maximum amount of compensation that could be paid to any employee during a specified period. If the formula is a percentage of salary or base pay, the maximum dollar amount that could be paid must be disclosed. Otherwise, the disclosure must include the formula under which the compensation would be calculated. If the compensation committee has authority to change the targets under a performance goal after shareholder approval of the goal, the material terms of the performance goal must be disclosed to and reapproved by shareholders every five years. Compensation Committee Certification Prior to payment, the compensation committee must certify in writing that the performance goals and any other material terms were in fact satisfied. For this purpose, approved minutes of the compensation committee are treated as written certification. Five Common Compliance Issues The regulations are complex, so there are many possible areas where employers can inadvertently fail to comply with the requirements of the performance-based exception. However, in our experience, the following are the most often-seen compliance issues Failure to obtain new shareholder approval every five years. It sounds like a simple requirement, but it is frequently overlooked by companies. In some cases, an employer may add shares during the five-year period, but only have the shareholders approve the additional shares, rather than reapprove the material terms of the performance goals. Use of a performance goal that is not included in the shareholder-approved plan. Although this has become less of an issue in recent years as employers develop a more comprehensive laundry list of possible performance goals, we have seen some employers use performance goals that are not in the shareholder-approved plan.
4 Failure to establish the performance goals in writing during the first 90 days of the performance period or when outcome is substantially uncertain. Again, this sounds like a simple requirement; however, it is not enough to have the compensation committee establish the performance measures in principle. The actual targets and the compensation formula must be established, in writing, during this period and at a time when the outcome is substantially uncertain. Payment of compensation when performance goals are not attained. Every year we see some employers who want to pay the targeted bonus even when the performance goals are not attained. Clearly such a payment would not qualify for the performance-based exception. However, it could also jeopardize the performance-based exception for prior or future bonuses. Remember, one of the requirements is that the compensation must be paid solely on account of attainment of the pre-established performance targets, and will not be so considered if facts and circumstances indicate it would be paid regardless of performance. Adjusting bonus amount for subsequent events (i.e., sale or acquisition of business unit). It is possible to adjust performance measures for certain objective subsequent events. However, this feature must be included in the performance goal and formula when initially established and not added at the end of the performance period.
5 Kathleen O Connor Adams (312) Kathleen.Adams@dbr.com Gary D. Ammon (215) Gary.Ammon@dbr.com Mark M. Brown (215) Mark.Brown@dbr.com Barbara A. Cronin (312) Barbara.Cronin@dbr.com Mona Ghude (215) Mona.Ghude@dbr.com Amy Lynn Graves (312) Amy.Graves@dbr.com Megan Glunz Horton (312) Megan.Horton@dbr.com Christine M. Kong (212) Christine.Kong@dbr.com Kelly S. Kuglitsch (414) Kelly.Kuglitsch@dbr.com David Levin (202) David.Levin@dbr.com Howard J. Levine (312) Howard.Levine@dbr.com Benjamin S. Lupin (215) Benjamin.Lupin@dbr.com Joyce L. Meyer (312) Joyce.Meyer@dbr.com Sarah Bassler Millar (312) Sarah.Millar@dbr.com Cristin M. Obsitnik (312) Cristin.Obsitnik@dbr.com Jean D. Renshaw (610) Jean.Renshaw@dbr.com Michael D. Rosenbaum (312) Michael.Rosenbaum@dbr.com Dawn E. Sellstrom (312) Dawn.Sellstrom@dbr.com Lori L. Shannon (312) Lori.Shannon@dbr.com Mark J. Simons (610) Mark.Simons@dbr.com Joshua J. Waldbeser (312) Joshua.Waldbeser@dbr.com Sharon L. Klingelsmith (215) Sharon.Klingelsmith@dbr.com Joan M. Neri (973) Joan.Neri@dbr.com David L. Wolfe (312) David.Wolfe@dbr.com Disclaimer Required by IRS Rules of Practice: Any discussion of tax matters contained herein is not intended or written to be used, and cannot be used, for the purpose of avoiding any penalties that may be imposed under Federal tax laws. This Drinker Biddle & Reath LLP communication is intended to inform our clients and friends of developments in the law and to provide information of general interest. It is not intended to constitute advice regarding any client s legal problems and should not be relied upon as such Drinker Biddle & Reath LLP. All rights reserved. A Delaware limited liability partnership Jonathan I. Epstein and Edward A. Gramigna, Jr., Partners in Charge of the Princeton and Florham Park, N.J., offices, respectively. california delaware illinois new jersey new york pennsylvania washington DC wisconsin
Model COBRA Subsidy Notices Issued
Employee Benefits & Executive Compensation Client Alert March 27, 2009 Model COBRA Subsidy Notices Issued The U.S. Department of Labor on March 19, 2009, issued model notices and revised FAQs related to
More informationHealth Plans: What s Next? Transitioning to Health Care Reform: So You Think You d Like Your Plan To Be Grandfathered
Health Plans: What s Next? Drinker Biddle s Health Care Reform Update for Employee Benefit Plans Transitioning to Health Care Reform: So You Think You d Like Your Plan To Be Grandfathered The grandfathered
More informationERISA Litigation September 2011
ERISA Litigation September 2011 In This Issue 2 Supreme Court Rules That Participants Cannot Sue for Benefits Under the Terms of SPDs 4 Plan Forum Selection Provisions One Way to Reduce Plan Expenses 6
More informationWhat s Next? Health Plans: Drinker Biddle s Health Care Reform Update for Employee Benefit Plans
Health Plans: What s Next? Drinker Biddle s Health Care Reform Update for Employee Benefit Plans IRS Proposed Regulations Provide Additional Guidance For Compliance With the Employer Shared Responsibility
More informationCustoms Proposes New Regulations to Recognize Use of Statistical Sampling and Allowable Offsets; Notice of Proposed Rulemaking
Client Alert October 2009 Customs Proposes New Regulations to Recognize Use of Statistical Sampling and Allowable Offsets; Notice of Proposed Rulemaking By James Sawyer U.S. Customs and Border Protection
More informationNew Mandatory Medicare Secondary Payer Reporting Rules Imminent
Medicare Alert April 2009 New Mandatory Medicare Secondary Payer Reporting Rules Imminent By Daniel W. Krane and Kristy M. Hlavenka Section 111 of the Medicare, Medicaid and SCHIP Extension Act of 2007
More informationERISA Newsletter for Retirement Service Providers July 2012
ERISA Newsletter for Retirement Service Providers July 2012 Dear Reader: This is a newsletter for service providers to ERISAgoverned retirement plans. While this newsletter focuses on legal issues faced
More informationDelaware Supreme Court Affirms Decision on Funds Legally Available for Redemption
Corporate & Securities Alert January 2012 Delaware Supreme Court Affirms Decision on Funds Legally Available for Redemption By Samuel Mason Summary and Facts The Delaware Supreme Court has affirmed a Chancery
More informationClawbacks in the Aftermath of Madoff and Other Investment Frauds
Hedge Fund Alert March 11, 2009 Clawbacks in the Aftermath of Madoff and Other Investment Frauds By Bennett W. Lasko Thousands of investors that entrusted money to Bernard Madoff or one of the feeder funds
More informationClient Memorandum. HR Law: Employee Benefits January 2005
Client Memorandum HR Law: Employee Benefits January 2005 Interpretations with Respect to 457(f) Plans: IRS Guidance Issued Under Code Section 409A Affecting Nonqualified Deferred Compensation Plans Overview:
More informationSEC Adopts Final Conflict Mineral Rules
SEC Adopts Final Conflict Mineral Rules By Troy M. Calkins and Peter B. Wolf September 2012 Client Alert The Securities and Exchange Commission (the Commission), on August 22, 2012, adopted a final rule
More informationSecurities Update. By Troy M. Calkins and Kimberly K. Rubel. Timing. Heightened Compensation Committee Independence Standards
September 2012 Securities Update IN THIS ISSUE 1 NYSE and NASDAQ Propose New Compensation Committee Listing Standards NYSE and NASDAQ Propose New Compensation Committee Listing Standards By Troy M. Calkins
More informationDOL SFINALREGULATIONANDPROHIBITED TRANSACTIONEXEMPTIONS: IMPACTON DISTRIBUTIONSANDROLLOVERS
DOL SFINALREGULATIONANDPROHIBITED TRANSACTIONEXEMPTIONS: IMPACTON DISTRIBUTIONSANDROLLOVERS FRED REISH BRUCE ASHTON BRAD CAMPBELL JOSHUA WALDBESER MAY12, 2016 Distributions and Rollovers Two Fiduciary
More informationERISA Newsletter for Retirement Plan Service Providers February 2013
ERISA Newsletter for Retirement Plan Service Providers February 2013 Dear Reader: This is the February 2013 edition of our newsletter for service providers to ERISA-governed retirement plans. The newsletter
More informationAfter 408(b)(2): Benchmarking Reasonableness
After 408(b)(2): Benchmarking Reasonableness FRED REISH, ESQ. Fred.Reish@dbr.com www.linkedin.com/in/fredreish April 27, 2012 Plan Expenses under ERISA The fiduciary responsibility rule in ERISA 404(a)(1)(A)
More informationSecurities Update. March Enjoying Life s Little Perks: the NIC Inc. Enforcement Action. By Matthew M. McDonald and Peter J.
March 2011 Securities Update Enjoying Life s Little Perks: the NIC Inc. Enforcement Action By Matthew M. McDonald and Peter J. Lively IN THIS ISSUE 1 Enjoying Life s Little Perks: the NIC Inc. Enforcement
More informationThe Fiduciary Re-Proposal: The New Definition and Its Consequences
The Fiduciary Re-Proposal: The New Definition and Its Consequences FRED REISH, ESQ. Fred.Reish@dbr.com www.linkedin.com/in/fredreish April 27, 2012 Fiduciary Status for Investment Advice The Department
More informationInvestment Management Developments
May 2009 Investment Management Developments IN THIS ISSUE 1 Eighth Circuit Opinion Underscores the Need for Process in Advisory Contract Reviews 2 Supreme Court Scheduled to Hear Appeal of Jones v. Harris
More informationIn January the Securities and Exchange Commission
February 7, 2003 I NVESTMENT M ANAGEMENT A LERT SEC Adopts Financial Expert Regulations In January the Securities and Exchange Commission (the SEC ) adopted final regulations implementing public disclosure
More informationSection 162(m) Compliance Overview and Update Presenters: Mary B. Hevener Daniel L. Hogans Vicki M. Nielsen
Section 162(m) Compliance Overview and Update 2010 Presenters: Mary B. Hevener Daniel L. Hogans Vicki M. Nielsen March 3, 2010 The Performance-Based Exemption From The 162(m) Deduction Limitation Renewed
More informationIN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE -------------------------------------------------------- x In re: : Chapter 11 : ADVANTA CORP, et al., : Case No. 09-13931 (KJC) : Debtors.
More informationOpen Multiple Employer Plans: Tax and ERISA Considerations
Open Multiple Employer Plans: Tax and ERISA Considerations A White Paper by FRED REISH, BRUCE ASHTON and Joshua waldbeser C. Frederick Reish (310) 203-4047 Fred.Reish@dbr.com www.drinkerbiddle.com/freish
More informationRetirement Income Team. Newsletter January In This Issue
Retirement Income Team Newsletter January 2013 Dear Reader: The Drinker Biddle Retirement Income Team brings together seasoned lawyers with diverse talents in multiple practice areas, including employee
More informationTPA Audits Section 504 Investigations of TPA Firms. Joshua J. Waldbeser, Attorney, Drinker Biddle & Reath LLP
TPA Audits Section 504 Investigations of TPA Firms Joshua J. Waldbeser, Attorney, Drinker Biddle & Reath LLP Joshua Waldbeser, Attorney, Drinker Biddle & Reath, LLP Joshua has been an attorney in the Employee
More informationChoppy Waters: New NASD Rules
A wave of updated NASD rules and regulations that affect the management and marketing of hedge fund operations has swept into the industry. Click the image to view our investment management capabilities
More information401(k) Account Balances as Monthly Retirement Income
This is the last Bulletin from Reish & Reicher. We say that with mixed emotions. It is always diffi cult to leave a long and successful arrangement. But we are excited about going to the Drinker Biddle
More informationIRAs in the Crosshairs: Washington s Growing, Multi- Agency Interest in Fees, Conflicts and Disclosure. Bradford Campbell Drinker Biddle & Reath
IRAs in the Crosshairs: Washington s Growing, Multi- Agency Interest in Fees, Conflicts and Disclosure Bradford Campbell Drinker Biddle & Reath Hon. Bradford P. Campbell Counsel (202) 230-5159 Bradford.Campbell@dbr.com
More informationThe Legacy of the Hedge Fund Adviser Registration Rule
The Legacy of the Hedge Fund Adviser Registration Rule By Michael P. Malloy, Joshua B. Deringer and Jillian L. Bosmann This article first appeared in the Summer 2006 issue of The Investment Adviser s Counsel.
More informationJanuary 21, 2015 ERISA FIDUCIARY CHECKUP
January 21, 2015 ERISA FIDUCIARY CHECKUP Today s Disclaimer The information presented in this webinar represent our perspectives, is not necessarily all inclusive, does not constitute legal or any other
More informationBy Jennifer R. Breuer and John D Andrea. Summary of Provisions Effective October 1, Fed. Reg. 51,087, 51,026 through 51,030 (Sept. 5, 2007).
Health Law Client Memorandum October 10, 2008 Stark Update CMS Includes Significant Stark Rule Changes in the Final 2009 Inpatient Prospective Payment System (PPS) Rule By Jennifer R. Breuer and John D
More informationRetirement Income Team. Newsletter May In This Issue. Dear Reader: John Blouch Chair, Retirement Income Team
Retirement Income Team Newsletter May 2013 In This Issue Page 2 Projecting Retirement Income 3 NAIC Update: Spring 2013 Meeting 5 Distribution Payments in Guise : An SEC Examination Priority 6 Converting
More informationSEC Staff Releases Report on Hedge Funds
By Michael P. Malloy Click the image to view our investment management capabilities Michael P. Malloy Drinker Biddle & Reath LLP Philadelphia, PA 215-988-2978 215-988-2757 (fax) Michael.Malloy@dbr.com
More informationThe DOL s Fiduciary Rule: What It Means to Advisers FRED REISH, ESQ.
The DOL s Fiduciary Rule: What It Means to Advisers FRED REISH, ESQ. April 7, 2015 Structure of Fiduciary Package The DOL s definition of fiduciary investment advice: covers most investments sales practices.
More informationNavigating the Proposed 409A Regulations-General Rules By Mary K. Samsa, Joyce L. Meyer, and Barbara A. Cronin
Client Memorandum HR Law: Employee Benefits October 2005 Navigating the Proposed 409A Regulations-General Rules By Mary K. Samsa, Joyce L. Meyer, and Barbara A. Cronin On September 29, 2005, the Department
More informationRollovers and IRA Transfers: Navigating Treacherous Waters FRED REISH, ESQ.
Rollovers and IRA Transfers: Navigating Treacherous Waters FRED REISH, ESQ. April 26, 2018 The Fiduciary Rule: Where Are We Now? Timeline for the fiduciary rule: June 9, 2017: Fiduciary regulation expanding
More informationWORKSHOP 9: What s the Hype on 3(16) and 3(38) Fiduciaries?
WORKSHOP 9: What s the Hype on 3(16) and 3(38) Fiduciaries? FRED REISH, ESQ. January 22, 2014 Fiduciary Mumbo Jumbo The 401(k) industry has an unlimited number of labels for ERISA fiduciaries--some accurate
More informationSurviving DOL Service Provider Investigations
Surviving DOL Service Provider Investigations DOL Investigations of Service Providers: Broker-Dealers, RIAs, and Recordkeepers Fred Reish, ESQ., Bruce Ashton, ESQ. & Bradford Campbell, ESQ. Drinker Biddle
More informationSneak Peak at Upcoming ACO Risk Sharing, Quality Measure and Beneficiary Assignment Regulations?
Client Alert December 2010 Sneak Peak at Upcoming ACO Risk Sharing, Quality Measure and Beneficiary Assignment Regulations? Medicare Payment Advisory Commission (MedPAC) Chairman, Glen Hackbarth, recently
More informationEmployee Benefits Client Alert: October 2008
Employee Benefits Client Alert: October 2008 Q&A ON 409A: COMPLIANCE DEADLINE FOR DEFERRED COMPENSATION PLANS AND AGREEMENTS Q-1: Why should service providers and service recipients be concerned with Internal
More informationWorth the Wait? The Final Section 409A Regulations
T O O U R F R I E N D S A N D C L I E N T S M e m o r a n d u m May 2, 2007 www.friedfrank.com Worth the Wait? The Final Section 409A Regulations The Treasury Department has issued final regulations under
More informationHow the Proposed SEC Regulations Would Affect Hedge Fund Managers
How the Proposed SEC Regulations Would Affect Hedge Fund Managers Click the image to view our investment management capabilities By Michael P. Malloy and Kenneth L. Greenberg This article was first published
More informationSEC Adopts Registration Rules for Hedge Fund Managers
SEC Adopts Registration Rules for Hedge Fund Managers Click the image to view our investment management capabilities By Michael P. Malloy This article was first published in the Fall 2004 issue of The
More information8, ADP,
2013 Tax Changes Beginning with your first payroll with checks dated in 2013, employees may notice changes in their paychecks due to updated 2013 federal and state tax requirements. This document will
More informationClient Alert. New Tax Law Will Require Substantial Changes to Many Non-Qualified Deferred Compensation Arrangements.
October 19, 2004 Client Alert An informational newsletter from Goodwin Procter LLP New Tax Law Will Require Substantial Changes to Many Non-Qualified Deferred Compensation Arrangements Employers must take
More informationTen Myths of FCPA Compliance
WHITE COLLAR CRIME ALERT April 2008 Ten Myths of FCPA Compliance By: Charles S. Leeper and Billy J. Smith By all accounts, 2007 was a monumental year in Foreign Corrupt Practice Act enforcement. The Department
More informationTo Be or Not to Be... A Fiduciary: Navigating the Fiduciary Regulation
To Be or Not to Be... A Fiduciary: Navigating the Fiduciary Regulation FRED REISH, ESQ. October 24, 2016 Structure of Fiduciary Package Expansion of definition of fiduciary investment advice: covers most
More informationBRISTOL-MYERS SQUIBB COMPANY 345 PARK AVENUE NEW YORK, NY (212)
SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 11-K x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2016 TRANSITION
More informationBARD EMPLOYEES SAVINGS TRUST 401(k) PLAN
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 11-K FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
More informationGCG FINANCIAL Health Care Reform Webinar Series Part II: Deep Dive Into Employer Mandate. March 12, 2013
GCG FINANCIAL Health Care Reform Webinar Series Part II: Deep Dive Into Employer Mandate March 12, 2013 David Levitz GCG Financial, Inc. 3000 Lakeside Drive Bannockburn, IL 60015 (847) 457-3003 David.Levitz@gcgfinancial.com
More information401(K) AND 403(B) PLAN SPONSORS AND THEIR FIDUCIARY DUTIES FOR REVENUE SHARING
401(K) AND 403(B) PLAN SPONSORS AND THEIR FIDUCIARY DUTIES FOR REVENUE SHARING JUNE 2017 A WHITE PAPER BY FRED REISH TABLE OF CONTENTS JUNE 2017 401(k) Plan Sponsors and Their Fiduciary Duties for Revenue
More informationComp Talks Section 162(m) Tips and Traps
Comp Talks Section 162(m) Tips and Traps Kathy Morgan, Iridium Communications Keith Ranta, Cooley attorney advertisement Copyright Cooley LLP, 3175 Hanover Street, Palo Alto, CA 94304. The content of this
More informationWhat You Don t Know Can Hurt You: A Primer on the False Claims Act
Litigation Alert May 2012 What You Don t Know Can Hurt You: A Primer on the False Claims Act By Gregory P. Miller, Michael P. Daly and Matthew A. Luber Right now, without your knowledge, your company could
More informationIN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: : Chapter 11 : ADVANTA CORP., et al., : Case No. 09-13931 (KJC) : Debtors. : (Jointly Administered) FEE AUDITOR S INITIAL REPORT
More informationHealth Reform is Here!
Health Law Alert April 2010 Health Reform is Here! By Jennifer Breuer On March 23, 2010, President Obama signed into law H.R. 3950, the Patient Protection and Affordable Care Act which the House of Representatives
More information2017 WORKBOOK. Mandatory LTC Training
2017 WORKBOOK Mandatory LTC Training ABOUT THE AUTHOR EDUCATION CREDIT AND YOUR CERTIFICATE OF COMPLETION LTC Connection specializes exclusively in LTC insurance training and education and has been working
More informationHONEYWELL INTERNATIONAL INC
HONEYWELL INTERNATIONAL INC FORM 8-K (Current report filing) Filed 07/30/14 for the Period Ending 07/29/14 Address 115 TABOR ROAD MORRIS PLAINS, NJ, 07950 Telephone 9734552000 CIK 0000773840 Symbol HON
More informationHATTERAS CORE ALTERNATIVES FUND, L.P.
HATTERAS CORE ALTERNATIVES FUND, L.P. FORM SC TO-I/A (Amended tender offer statement by Issuer) Filed 10/28/14 Address 8510 COLONNADE CENTER DRIVE SUITE 150 RALEIGH, NC, 27615 Telephone (919) 846-2324
More informationTax Update. Also In This Issue JANUARY Radio Show Appearance. Pepper Sponsors Annual Federal Bar Tax Conference.
Tax Update JANUARY 2006 Corporate Clean Up - New Rules on Reorganizations Using Foreign Entities, and Disregarded Entities, and Somewhat Surprising Clarification of Basis Rules in Reorganizations O n January
More informationThursday, 7 November 2013 WRN TOPIC: IRC 409A Essential for Effectively Deferring Compensation.
Thursday, 7 November 2013 WRN 13-45 The WRMarketplace is created exclusively for AALU Members by the AALU staff and Greenberg Traurig, one of the nation s leading tax and wealth management law firms. The
More informationAnatomy of a Deferred Compensation Plan
Executive Compensation Basics A Webinar Series Anatomy of a Deferred Compensation Plan Webinar 3 of 4 June 17, 2014 www.morganlewis.com Presenters: Daniel Hogans Randy McGeorge Leslie DuPuy Morgan, Lewis
More information2012 RUN Powered by ADP Tax Changes
2012 RUN Powered by ADP Tax Changes Dear Valued ADP Client, Beginning with your first payroll with checks dated in 2012, you and your employees may notice changes in your paychecks due to updated 2012
More informationRetirement Plan Update: Court Decisions, SEC and DOL Guidance, and More FRED REISH, ESQ.
Retirement Plan Update: Court Decisions, SEC and DOL Guidance, and More FRED REISH, ESQ. April 7, 2016 1 DOL Regulatory Agenda Pension Benefit Statements As part of this initiative, the Department will
More informationGetting Up to Speed on the Final Regulations for Deferred Compensation
Where published May-June 2007 THE TAX EXECUTIVE Getting Up to Speed on the Final Regulations for Deferred Compensation By: Norman J. Misher and David E. Kahen S ection 409A of the Internal Revenue Code
More informationNew IRS Guidance On Deferred Compensation
October 2005 New IRS Guidance On Deferred Compensation The IRS has issued long-awaited Proposed Regulations under new Internal Revenue Code Section 409A, relating to non-qualified deferred compensation.
More informationPARKER DRILLING COMPANY
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event
More informationAlabama Circuit Court Invalidates Add-Back of Royalties Paid to Affiliates
State Tax Alert www.blankrome.com January 2007 No. 1 Alabama Circuit Court Invalidates Add-Back of Royalties Paid to Affiliates The first decision in the nation to analyze a statute that requires the add-back
More informationSEC Proposes Disclosure Rules for Critical Accounting Policies
NUMBER 202 FROM THE LATHAM & WATKINS CORPORATE DEPARTMENT BULLETIN NO. 202 JULY 3, 2002 SEC Proposes Disclosure Rules for Critical Accounting Policies This new rule would add several pages or more of textual
More informationThe Honorable Assemblyman Gary S. Schaer. Business Administrator, City of Passaic Ricardo Fernandez, PP, AICP, QPA
The Honorable Assemblyman Gary S. Schaer Business Administrator, City of Passaic Ricardo Fernandez, PP, AICP, QPA 1 In this era-before "separation of church and state"-religious institutions were closely
More informationSelected Regulatory Developments: Governmental Plans. Terry A.M. Mumford Mary Beth Braitman Ice Miller LLP Indianapolis, Indiana
81 ALI-ABA Course of Study Retirement, Deferred Compensation, and Welfare Plans of Tax-Exempt and Governmental Employers September 4-6, 2008 Washington, D.C. Selected Regulatory Developments: Governmental
More informationPreparation for a Successful Payroll Year end. Presented by: Jean Domaingue, CPP
Preparation for a Successful Payroll Year end Presented by: Jean Domaingue, CPP November 15, 2012 CompuPay is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor
More informationClient Alert. Automatic Renewals of Consumer Contracts: Everything You Ever Wanted to Know But Were Afraid to Ask. Automatic Renewals Generally
July 27, 2018 Automatic Renewals of Consumer Contracts: Everything You Ever Wanted to Know But Were Afraid to Ask By Michael P. Daly, Marshall L. Baker and Antoinette Snodgrass Client Alert Automatic renewals
More informationFiduciary 3(16) Services: How to Survive in the New Fiduciary World
Fiduciary 3(16) Services: How to Survive in the New Fiduciary World Jean Ackerman, Department of Labor Heather B. Abrigo, Esq., Drinker Biddle & Reath LLP Russell Hooker, Nova 401(k) Associates Heather
More informationAllstate Retirement Plan Final Average Pay Benefit
Allstate Retirement Plan Final Average Pay Benefit This Summary Plan Description ( SPD ) describes the provisions of the Allstate Retirement Plan (the Plan ) in effect as of January 1, 2010, which relate
More informationClient Alert. IRS Issues Final Regulations on Noncompensatory Partnership Options
Number 1471 February 19, 2013 Client Alert Latham & Watkins Tax Department IRS Issues Final Regulations on Noncompensatory Partnership Options On February 4, 2013, the Internal Revenue Service (IRS) released
More informationFiduciary Update and Best Practices for Retirement Plan Committee Members April 7, 2017
Fiduciary Update and Best Practices for Retirement Plan Committee Members April 7, 2017 Presented by: Nicole Berlowski ProHealth Care, Inc. 725 American Drive 191 N. Wacker Drive POB Suite 305 Suite 3700
More informationCHICAGO MERCANTILE EXCHANGE HOLDINGS INC
CHICAGO MERCANTILE EXCHANGE HOLDINGS INC FORM DEFA14A (Additional Proxy Soliciting Materials (definitive)) Filed 3/29/2007 Address 20 S. WACKER DR. CHICAGO, Illinois 60606 Telephone 312-930-3011 CIK 0001156375
More informationThe Walt Disney Company 500 South Buena Vista Street, Burbank, California (818)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K ý ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal period ended December 31,
More informationDesignating a Beneficiary for Your IRA
Retirement Planning Designating a Beneficiary for Your IRA You have likely named beneficiaries many times over the years for things like your life insurance policies, annuity contracts, IRAs, company pension
More informationSEC Proposes Written Code of Ethics
By Kenneth L. Greenberg Click the image to view our investment management capabilities This article was first published in the Winter 2004 issue of The Investment Adviser s Counsel. Reprinted by permission.
More informationSecurities Law and Tax Advisory
March 6, 2003 Securities Law and Tax Advisory SEC Review of Filings by Fortune 500 Highlights Important Changes to Consider in Preparing Annual Disclosure Filings On February 27, 2003, the SEC s Division
More informationState Estate Taxes BECAUSE YOU ASKED ADVANCED MARKETS
ADVANCED MARKETS State Estate Taxes In 2001, President George W. Bush signed the Economic Growth and Tax Reconciliation Act (EGTRRA) into law. This legislation began a phaseout of the federal estate tax,
More information500 Dallas, Suite 1000 Houston, Texas April 1, 2002
500 Dallas, Suite 1000 Houston, Texas 77002 April 1, 2002 To our stockholders: You are cordially invited to attend the annual meeting of our stockholders to be held at the Doubletree Hotel at Allen Center,
More informationECOLAB INC. FORM 11-K (Annual Report of Employee Stock Plans) Filed 6/22/2004 For Period Ending 12/31/2003
ECOLAB INC FORM 11-K (Annual Report of Employee Stock Plans) Filed 6/22/2004 For Period Ending 12/31/2003 Address ECOLAB CTR 370 WABASHA ST NORTH ST PAUL, Minnesota 55102 Telephone 651-293-2233 CIK 0000031462
More informationCONSTELLATION ENERGY GROUP, INC. EMPLOYEE SAVINGS PLAN (Full title of the Plan)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Six Months Ended July 1, 2014
More informationContact and Support Information 2 Information in Tax Year 2017 Release Notes Release Notes
2017.04010 Release Notes July 22, 2018 Contact and Support Information 2 Information in Tax Year 2017 Release Notes 2 Highlights for Release 2017.04010 3 Tax Updates 3 Product Updates 4 Individual (1040)
More informationNew Deferred Compensation Legislation Summary and Action Steps
October 29, 2004 New Deferred Compensation Legislation Summary and Action Steps The House and Senate recently approved far-reaching changes in the federal tax laws that apply to nonqualified deferred compensation
More informationSPECIAL TAX NOTICE REGARDING PLAN PAYMENTS (For Participant) A. TYPES OF PLAN DISTRIBUTIONS
SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS (For Participant) This notice explains how you can continue to defer federal income tax on your retirement plan savings in the Plan and contains important information
More informationThe Drama Continues: Senate Finance Committee Chairman s Mark includes Proposals That Would Dramatically Impact Executive Compensation Programs
Legal Update November 14, 2017 The Drama Continues: Senate Finance Committee Chairman s Mark includes Proposals That Would Dramatically Impact Executive Compensation Programs Background HR 1, the Tax Cuts
More informationDisability Risk and Alternative Work Arrangements
Disability Risk and Alternative Work Arrangements Nicholas Broten Michael Dworsky David Powell RAND 6 th Annual Meeting of the Disability Research Consortium August 1, 2018 Washington, D.C. This research
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-K
Page 1 of 126 10-K 1 d10k.htm FORM 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
More information2012 TAXATION OF CARRIED INTERESTS CURRENT LEGISLATIVE PROPOSALS
2012 TAXATION OF CARRIED INTERESTS CURRENT LEGISLATIVE PROPOSALS David A. Sussman 2014 2014 Duane Morris LLP. All Rights Reserved. Duane Morris is a registered service mark of Duane Morris LLP. Duane Morris
More informationTHE IRS REQUIRED MINIMUM DISTRIBUTION RULES AND YOUR TRS TDA
THE IRS REQUIRED MINIMUM DISTRIBUTION RULES AND YOUR TRS TDA Presented by: David N. Levine Groom Law Group, Chartered Washington, DC May 22, 2018 Part I: Introduction and Background 2 Introduction TRS
More informationIRS Releases Initial Guidance on the 2017 Amendments to the Internal Revenue Code s Limitation on Deduction for Certain Executive Compensation
IRS Releases Initial Guidance on the 2017 Amendments to the Internal Revenue Code s Limitation on Deduction for Certain Executive Compensation Notice 2018-68 Provides Guidance on the Application of the
More informationFrequently Asked Questions about Work Comp
Frequently Asked Questions about Work Comp This supplemental FAQ answers questions that were not discussed in the Work Comp Premium Calculation Webinar. Hold CTRL & click on a subject heading below to
More informationNew ERISA 408(b)(2) Regulations Mastering Detailed Requirements for Service Provider Fee Disclosures
Presenting a live 110 minute webinar with interactive Q&A New ERISA 408(b)(2) Regulations Mastering Detailed Requirements for Service Provider Fee Disclosures WEDNESDAY, JANUARY 26, 2011 1pm Eastern 12pm
More informationIN THE SUPREME COURT OF THE STATE OF DELAWARE. AT&T CORP., Plaintiff Below, No. 236, 2006 Appellant,
IN THE SUPREME COURT OF THE STATE OF DELAWARE AT&T CORP., Plaintiff Below, No. 236, 2006 Appellant, v. Court Below: Superior Court of the State of Delaware FARADAY CAPITAL LIMITED, in and for New Castle
More informationMacquarie Capital (USA) Inc. Statement of Financial Condition (unaudited) September 30, 2018
Statement of Financial Condition (unaudited) Index Page(s) Statement of Financial Condition... 1 Notes to the Statement of Financial Condition... 2 9 Statement of Financial Condition (unaudited) Assets
More informationThe conference is pleased to have the University of San Diego School of Law as a co-sponsor of this year s conference.
Jeremiah Long Memorial 21 st Annual National Conference on LIKE-KIND EXCHANGES UNDER SECTION 1031 I.R.C. October 19 21, 2016 San Diego, California Sheraton San Diego Hotel & Marina PRESENTED BY: 1031 Advanced
More informationBeware the Ides of March: Voluntary Deferral Elections for 2005 Must Be Made by March 15
FEBRUARY 19, 2005 VOLUME 1, NUMBER 4 [A]n employee may make an election as late as March 15, 2005, to defer compensation for services performed on or before December 31, 2005. Beware the Ides of March:
More informationDecember 6, To: Friends of Environmental Defense Fund From: Peter Accinno CFO, Treasurer, VP Finance and Administration
December 6, 2010 To: Friends of Environmental Defense Fund From: Peter Accinno CFO, Treasurer, VP Finance and Administration Thank you for requesting a copy of our audited financial statements for the
More information