This presentation will provide you with a good foundation to help you design and administer these nonqualified deferred compensation plans in a legally compliant manner. You will learn the differences between qualified and non-qualified plans, ERISA, 409A & Govt. filing requirments.
In order to defer taxation and avoid penalties, such plans must meet a number of specific requirements under Section 409A of the Code. Such plans also must be designed and operated in a way that meets exceptions under the Employee Retirement Income Security Act (ERISA) in order to avoid the application of ERISA’s fiduciary and anti-alienation provisions. A failure to design and operate a nonqualified deferred compensation in accordance with these rules can result in the early taxation of plan contributions, tax penalties, and potential fiduciary liability for plan sponsors.
This presentation will provide you with a good foundation to help you design and administer these nonqualified deferred compensation plans in a legally compliant manner.
Why Should You Attend:
Nonqualified deferred compensation plans can provide executives with benefits in excess of those provided under qualified deferred compensation plans. While attractive to executives, these plans are subject to complex rules. It is critical that employers understand and properly implement these rules in order to maximize the chances that such plans will provide the intended benefits. A failure to follow these requirements can result in costly penalties to executives and may increase the likelihood of litigation.In order to defer taxation and avoid penalties, such plans must meet a number of specific requirements under Section 409A of the Code. Such plans also must be designed and operated in a way that meets exceptions under the Employee Retirement Income Security Act (ERISA) in order to avoid the application of ERISA’s fiduciary and anti-alienation provisions. A failure to design and operate a nonqualified deferred compensation in accordance with these rules can result in the early taxation of plan contributions, tax penalties, and potential fiduciary liability for plan sponsors.
This presentation will provide you with a good foundation to help you design and administer these nonqualified deferred compensation plans in a legally compliant manner.
Areas Covered in the Webinar:
- The differences and similarities between qualified and nonqualified plans
- Code Section 409A requirements
- Application of ERISA to nonqualified plans
- Plan document and governmental filing requirements
- Use of rabbi trusts to fund plan benefits
- Avoiding costly litigation by following best practices
Who Will Benefit:
- Employers
- Plan administrators
- Compensation specialists
- Claims administrators
- Payroll
- Benefit managers
- HR personnel
Course Provider
Steve Flores,
