The coronavirus pandemic has had a huge impact on businesses nationwide. Newport’s Compensation Consulting team has been monitoring the impact on compensation programs and has developed some innovative strategies to enable companies to move forward and operate in the “new normal.”
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During this challenging economic landscape, Bank Owned Life Insurance (BOLI) remains an asset banks should consider due to the consistent income produced by BOLI policies through high credit quality insurance companies.
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The novel coronavirus (COVID-19) has created great economic uncertainties for companies and their employees. This article provides timely information to assist non-qualified plan sponsors in answering the most common questions they may be receiving.
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Pay programs are the guidelines, policies and practices employers use to determine employee pay. Why not leverage your pay program to encourage employee retirement plan participation?
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IRS Notice 2018-68 (the “Notice”) provides transition guidance under Internal Revenue Code (“Code”) §162(m) that allows employers to deduct all grandfathered non-qualified deferred compensation.
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You may have pay inequality at your firm and not even be aware of it. Taking a deeper look at pay practices and amounts across is critical in establishing equitable pay across all roles and areas of your organization.
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Managed Account services are an increasing trend among plan sponsors. As noted in the 2017 edition of How America Saves, 27% of plans offer managed account advice, and because larger plans are more likely to offer advice, half of plan participants have access to a service.
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Employers who maintain non-qualified deferred compensation plans or other supplemental employee retirement plans for their senior executives and other highly compensated employees may want to consider establishing a “rabbi trust” (so named because the first such arrangement was established by a synagogue to provide deferred compensation to its rabbi).
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