New IRC 457(f) Deferred Compensation Rules for Nonprofits: Preparing for Major Changes Ahead
Reviving 457(f) Plans: Short-Term Deferrals, Rolling Risk of Forfeiture, Deferral of Current Compensation and More
Recording of a 110-minute CPE webinar with Q&A
This course will provide nonprofit organization advisers and professionals with a critical first look at the new IRS guidance on deferred compensation for nonprofit and exempt organization executives and employees. The panel will discuss critical structuring changes to Section 457(f) and define the additional opportunities and challenges for exempt organization directors and professionals to consider in structuring deferred compensation plans.
Outline
- Previous 457(f) guidance
- New guidance deviation from Section 409A treatment
- Noncompete covenants
- “Rolling risk of forfeiture”
- Benefit exchanges
- Deferral of base salary
- Planning opportunities and risks
Benefits
The panel will discuss these and other important topics:
- How do the new regs interpret participation in a noncompete covenant in terms of whether an SRF exists?
- How do the new regulations differ from Section 409A rules on “rolling risk of forfeiture?”
- What provisions do the new regs make for short-term deferrals on existing plans?
- How do the new regulations allow for deferral of current base salary and under what circumstances?
- What plans are not covered by the new regulations?
Faculty
Andrew L. Oringer
Partner
Dechert
Mr. Oringer is co-chair of his firm's ERISA and Executive Compensation group, and leads the firm’s... | Read More
Mr. Oringer is co-chair of his firm's ERISA and Executive Compensation group, and leads the firm’s national fiduciary practice in New York. He counsels clients on their employee benefit plans and programs, benefits-related tax matters and fiduciary issues arising in connection with the investment of employee benefit plan assets. His practice includes advising clients regarding ERISA and employee benefits generally, including 401(k) and other retirement plans as well as medical and other welfare plans. His advice to clients encompasses all aspects of corporate transactions and initial public offerings in which benefits and compensation issues play a central part.
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Stefan P. Smith
Partner
Locke Lord
Mr. Smith has extensive experience in employee benefits and executive compensation law. He works with both public and... | Read More
Mr. Smith has extensive experience in employee benefits and executive compensation law. He works with both public and private entities to establish and ensure the continued compliance of tax-qualified defined contribution and defined benefit retirement plans, including 401(k)/profit sharing plans, traditional defined benefit plans, money purchase plans, employee stock ownership plans, and cash balance plans. In addition, he assists with employee benefit matters arising during mergers and acquisitions and works with all forms of health and welfare plans and executive and equity-based compensation, including incentive and non-qualified stock options, restricted stock awards, stock appreciation rights, employee stock purchase plans, phantom equity, performance unit and bonus plans, SERPs and other excess benefit plans, and non-qualified deferred compensation plans.
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J. Marc Fosse
Director
Trucker Huss
Mr. Fosse focuses on all the tax, securities, corporate and accounting issues related to executive and equity... | Read More
Mr. Fosse focuses on all the tax, securities, corporate and accounting issues related to executive and equity compensation arrangements. He works with publicly traded, private, non-profit and government clients in the design, implementation and operation of domestic and international executive nonqualified and supplemental deferred compensation plans, as well as equity-based and other long-term incentive compensation arrangements. He regularly advises clients regarding handling employee benefit matters in corporate mergers, acquisitions, divestitures, initial public offerings and other corporate transactions.
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Thomas M. Asmar
Counsel
Skadden Arps Slate Meagher & Flom
Mr. Asmar advises public and private companies, as well as private equity funds, on all employee benefits and... | Read More
Mr. Asmar advises public and private companies, as well as private equity funds, on all employee benefits and compensation issues arising out of mergers, acquisitions, IPOs, financings and other corporate transactions. He also counsels companies in a variety of industries on the design and implementation of compensation arrangements, including employment agreements, equity compensation plans, incentive compensation, deferred compensation, severance agreements and change-in-control arrangements. He advises clients on tax, securities and corporate governance law issues as they relate to executive compensation and employee benefit arrangements. He also counsels clients on golden parachute payments, the limits on the deductibility of executive compensation, the tax rules regarding nonqualified deferred compensation, executive compensation disclosure and reporting for proxy statements and other securities filings, and pension and welfare plan matters.
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