Abacus Retirement Solutions, LLC
Carpenter Morse Group Inc.
Premier Plan Consultants
Wespath Benefits and Investments
Trucker Huss, A Professional Corporation
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|Benefits Update: Bonus Deferral June 30 Deadline for Calendar-Year Deferred Compensation Plans|
June 13, 2005
Excerpt: New Code Section 409A imposes strict deadlines for making elections to defer compensation. In general, elections to defer compensation must be made before the beginning of the calendar year in which the services for which the compensation is payable are performed. Thus, under the general rule, an election to defer a bonus for services performed in 2005 would have to have been made by December 31, 2004.
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