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Showing results for tags 'commission'.
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If an employer agrees to provide employees a flat % of their sales revenue as a commission to be paid in the following year, is that arrangement subject to 409A?
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I work for a company with about 220 (benefit eligible) employees. We currently work with a broker to support our benefits strategy and marketing throughout the year. Last year (after a large premium increase on our medical plan) we decided to carve out the commissions from the premiums and pay our broker a flat fee for their services. Over the past year, we have been cutting costs significantly across the company and we have now begun looking at this cost. In addition to negotiating the fee, I have also been asked to look into the possibility of moving forward without the services of a broker. Does anyone have any experience with this? Or know of any companies doing everything in-house and working directly with carriers? Our HR team consists of 5 people, myself being the only one with benefits experience. It is noted that bringing this service in-house may require additional headcount, however, my thought is we could not obtain the experience and time commitment we need for less than the fee we currently pay the broker. Any help is appreciated!
