Insights on benefits counseling and litigation issues impacting employers nationwide
IRS Notice 2010-6 previously provided guidance concerning how to make payment of nonqualified deferred compensation that is subject to the signing of a release complaint with Section 409A.
Essentially, it provides that a plan may not allow an employee to delay or accelerate the timing of a payment as a result of the employee’s actions …
Last year, the IRS began auditing deferred compensation plans and arrangements under IRC Section 409A, which imposes restrictions on both the terms and the operation of such plans unless an exemption applies. This program began in 2009, the first year that plan documents had to comply with Section 409A in writing (beginning in 2006, plans had to comply…
