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On April 11, 2007, the Treasury Department and IRS released the long awaited "final" 409A regulations on nonqualified deferred compensation. The regulations apply to salary or bonus deferrals, payments of compensation in a future year, many severance pay arrangements, and discounted stock options. In some cases, the IRS will seek penalties directly from executives rather than their employers.
The Federal Government is taking an unprecedented, aggressive stance on 401(k) and other qualified retirement plans:
It is our strong recommendation that all companies that have not done so in the last two years, review their retirement plan operations to ensure that they are in compliance.
401(k) and other retirement plans often do not take full advantage of opportunities to benefit key employees. Employer contributions can be leveraged to provide additional benefits to key personnel while still complying with IRS nondiscrimination tests
The Allen Matkins Employee Benefits attorneys can help you:
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