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Search the News Archive
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38 Matching News Items |
| 1. |
Fulcrum Partners LLC
Aug. 9, 2022
"The establishment of an NQDC plan for your HCEs provides an almost unlimited pre-tax deferral opportunity for your HCEs.... The refunds from a 401(k) can be eliminated if you establish a lower deferral percentage for HCEs that will ensure compliance with the ADP and ACP tests. The excess dollars that an HCE would have normally deferred to the 401(k) plan will now be deferred by your HCEs to the NQDC plan."
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| 2. |
Fulcrum Partners LLC
Sept. 28, 2021
"[Y]ounger Americans (Gen Y) on average expect to be able to retire by age 59.... Baby Boomers on average, identify their target retirement age as 68. But as the past eighteen months have clearly underscored, sometimes even the best laid plans go awry. As employees and executives plan for retirement, they should concurrently plan for the possibility that unexpected retirement can, and does, affect millions of American workers."
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| 3. |
Fulcrum Partners LLC
June 16, 2021
"[While] the CARES Act temporarily waived the required minimum distributions for all types of retirement accounts, included inherited IRA plans, the waiver expired in December of 2020.... The amount you are required to withdraw ... may be surprisingly more today than it was when you paused making withdrawals in 2020.... [T]here is no requirement to make up the missed 2020 distribution with the resumed 2021 distributions."
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| 4. |
Fulcrum Partners LLC
June 13, 2021
"Account-based plans are generally viewed as simpler for participants to understand and manage. Account-based structures also fit well within the framework of IRC Section 409A, which focuses on proper administration of distributions. Class-year structures offer flexibility due to the greater number of sub-accounts created. However, this also produces more complexity for distribution management."
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| 5. |
Fulcrum Partners LLC
May 13, 2021
"Filling lower-level jobs left open by post-pandemic workplace transitions is a challenge. But what if your organization loses some of its key talent to early retirement? How well can your company function if multiple top executives all find the idea of an early exit very appealing? Creatively designed nonqualified deferred compensation plans (NQDC) serve the objectives both of employers and executives in a variety of ways."
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| 6. |
Fulcrum Partners LLC
Apr. 21, 2021
"[R]oughly 66 percent of nonqualified deferred plan eligible employees participated in employer NQDC plans in 2020, in contrast to the 53.4 percent of employees who participated in their organization's NQDC plan per the PSCA's 2018 study.... NQDC plan participation documented by the 2020 study, accounted for deferral of, on average, 10.5 percent of the employee's base pay."
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| 7. |
Fulcrum Partners LLC
Apr. 19, 2021
"The purpose and design of executive benefits should be different now because the world itself is different. But what do these differences look like and what steps should Chief Financial Officers (CFOs) be taking?"
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| 8. |
Fulcrum Partners LLC
Feb. 3, 2021
"Whether additional contributions and earnings and losses credited to the account balance after the termination date, (through the earliest possible date the account balance could have been distributed to the employee) are grandfathered depends on whether the terms of the plan require the corporation to make those contributions or credit those earnings and losses through the earliest possible date the account balance could be distributed if it were terminated. The final regulations also provide a similar rule for non-account balance plans."
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| 9. |
Fulcrum Partners LLC
Dec. 2, 2020
"In the same way a NQDC plan is exempt from most requirements of ERISA, requirements are also different regarding the QDRO and an NQDC plan compared to a qualified plan. Although a plan sponsor must comply with a QDRO regarding a qualified plan, in the case of most NQDC plans, the plan sponsor may actually be prohibited from complying with the court order."
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| 10. |
Fulcrum Partners LLC
Nov. 16, 2020
"Executives may find that pushing out access to NQDC plan money by five years is a more beneficial and strategic option than receiving that money as a lump sum payout at a time when the executive is in the highest tax bracket.... Strategically re-deferring money, creating multiple buckets with differing payout schedules or through the election of a different pay out schedule for each year can be a tax-favorable decision."
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