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Learn the ins and outs of nonqualified deferred compensation plans and Code Section 409A.
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, including Internal Revenue Code Section 409A (Section 409A).
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 design and operate a nonqualified deferred compensation arrangement in accordance with these rules can result in the early taxation of plan contributions, tax penalties, and potential liability for plan sponsors.
This topic will provide you with a good foundation for identifying arrangements that are subject to Section 409A and help you design and administer these nonqualified deferred compensation plans in a legally compliant manner.
- You will be able to define what arrangements are subject to Code Section 409A.
- You will be able to describe Code Section 409A requirements for various arrangements.
- You will be able to discuss nonqualified deferred compensation arrangements.
- You will be able to explain the importance of complying with Code Section 409A requirements.
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