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Immediate Action Steps for Executive Retirement and "Deferred Compensation" Arrangements |
September 5, 2005
Previously published on October 27, 2004
On October 20, 2004, President Bush signed legislation ("New Law") that will significantly impact most nonqualified post-employment/retirement-type plans and arrangements. Generally, the New Law imposes immediate income taxation and penalties on "amounts deferred" after 2004 which do not comply with the more restrictive election, distribution and funding requirements of new IRC Section 409A.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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