UPDATE: Latest Senate Markup of the “Tax Cuts and Jobs Act” Strikes Provisions that Would Have Drastically Changed Nonqualified Deferred Compensation Arrangements, While Retaining Revisions to 162(m) Limits on Executive Pay

J. MARC FOSSE, November 16, 2017 The November 14, 2017, markup of the Tax Cuts and Jobs Act (the “Act”) released by the Chairman of the Senate Finance Committee deletes section III.H.1 of the November 9th Senate proposal. That section would have replaced section 409A of the Internal Revenue Code (the “Code”) with Code section […]

Executive Compensation Programs Are Still on the Chopping Block in Senate Version of “Tax Cuts and Jobs Act”

J. MARC FOSSE, November 13, 2017 Shortly after the House version1 of the Tax Cuts and Jobs Act (the “Act”) was amended to delete all provisions relating to sweeping changes to executive compensation programs, the initial Senate proposal for the Act was released, putting these provisions right back on the table. Although the Act is […]

Compliance Alert: Disaster Relief Guidance for Health Plans

GISUE MEHDI, November 2017 Since August, Hurricane Harvey hit Texas and Louisiana, followed by Irma in Florida and the Caribbean, and Hurricane Maria in Puerto Rico. In addition to the human tragedy, these hurricanes have caused significant disruptions to employer-sponsored health and welfare plans in the impacted regions. Employers will face challenges reaching and tracking […]

IRS Guidance on Pension Plan Mortality Tables and Funding Methods

KEVIN E. NOLT, November 2017 Recent guidance by the Internal Revenue Service (IRS) impacts the funding rules applicable to defined benefit pension plans. As described below, the guidance changes the mortality tables used for minimum funding (and other) purposes and the process used to modify a plan’s funding methods. We recommend that plan sponsors and […]

Pension Plan Limitations for 2018

SHANNON OLIVER, November 2017 On October 19, the Internal Revenue Service issued Notice 2017-64, containing the cost-of-living adjustments applicable to retirement plan limitations under the Internal Revenue Code (the “Code”). These changes will take effect on January 1, 2018, and are based on the fact that the Consumer Price Index increased by 2.2% last year. […]

The Revolution of Employer-Sponsored Health Insurance

ERIC SCHILLINGER, October 2017   As published by on October 19, 2017. On Oct. 12 President Donald Trump issued an executive order regarding the federal laws governing health care and insurance. The executive order itself does not change the existing rules. Rather, it instructs the applicable federal agencies — the U.S. Departments of Treasury, Labor, […]