This article addresses recent tax law developments affecting non-qualified deferred compensation plans sponsored by publicly traded corporations and non-public organizations that are required to file statements with the Securities and Exchange Commission.
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Three Questions with Rena Someran, Managing Principal, Newport Group's Compensation Consulting Services
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To err is human. Even the most organized and meticulous plan sponsors can make mistakes, as can the countless others they rely on to help them administer their plans and process plan transactions.
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Walnut Creek, CA—June 8, 2018—Newport, a leading provider of retirement plans, insurance, and consulting services, announced today that the company has reached an agreement with the private equity firm Kelso & Company (Kelso). Kelso will make a significant investment in Newport and provide access to capital to help fund the future growth of the company.
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For many decades, banks of all sizes have used bank-owned life insurance (BOLI) as an effecient tool for offsetting employee benefit cost. Today, over $189 billion of BOLI resides on U.S. bank balance sheets.1
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This article addresses recent tax law developments affecting non-qualified deferred compensation plans sponsored by publicly traded corporations and non-public organizations that are required to file statements with the Securities and Exchange Commission.
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Do you know which of your former employees who still have savings in your retirement plan are turning 70½ this year? Or how many are older than that? Or how many accounts in your plan are held by beneficiaries? These individuals are required by law to withdraw money from your retirement plan each year. As a plan sponsor, you need to keep track of birthdates and beneficiary ownership, so you can make certain that plan distributions are being made properly.
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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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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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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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