Overview

"There are a variety of problems that can be addressed by nonqualified deferred compensation (""NQDC"") arrangements. NQDC is essentially a compensation arrangement that provides for the payment of cash, property or benefits and does not come within one of the categories of deferred compensation arrangements which are ""qualified"" under applicable tax statutes. This updated and expanded edition of Taxation and Funding of Nonqualified Deferred Compensation is a complete and current resource for using this extremely flexible planning device to best address your client's financial goals. Written by specialists in the field, this book defines the perspective of both the employee and employer in using this planning tool. The authors demonstrate how NQDC can provide solutions to complex compensation issues and provide up-to-date information on: The ways that NQDC can be tailored to serve the needs of employers and employees, and the tax consequences for each Differences in the timing of NQDC benefits under income tax and FICA rules How NQDC arrangements can be structured to comply with Section 409A Opportunities to minimize potential estate and income taxes on death benefits paid under NQDC How Section 457 of the IRC is applicable to NQDC arrangements for tax-exempt organizations and the unique burdens this puts on state and tax-exempt employers and their employees How NQDC impacts social security benefits, and when the risk of forfeiture should be structured to lapse in order to avoid substantial reductions in these payments Using NQDC with other plans, including split-dollar and 401(k) wrap plans Issues with financial accounting and securities laws, and more"

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9781641059268

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Marla J. Aspinwall is a partner in the Executive Compensation practice group in the Los Angeles office of Loeb & Loeb LLP. Marla has spent the past twenty-five years working with employers and compensation consultants across the country to design innovative ways to provide incentive, equity, deferred compensation, life and disability benefits to highly compensated executives. Recently she has been active in crafting employment agreements and other compensation and benefit arrangements to comply with the extensive new deferred compensation, tax, securities, and accounting rules discussed in this book. Her expertise combines aspects of tax, ERISA, insurance, labor, securities, and bankruptcy law to uniquely qualify her to help employers and compensation consultants structure innovative compensation packages for upper management. She has worked for many years with members of the insurance industry to structure the most effective insurance funded compensation and benefit arrangements. She is experienced at structuring compensation arrangements for all types of taxable and non-taxable entities, and frequently represents companies and executives in the negotiation of compensation arrangements in numerous industries. Marla is a popular speaker at the USC Tax Institute, the NYU Tax Institute, the Western Pension & Benefits Association, and various industry groups. She is an active member of the American Bar Association and the California State and Los Angeles County Bar Associations. She has authored white papers on the application of the Social Security Tax Rules Applicable to Nonqualified Deferred Compensation Arrangements and the Application of Section 409A to the Entertainment Industry presented by Washington DC Delegations of the California State and Los Angeles County Bar Associations. She co-authored the Matthew Bender pamphlet Critical Issues in the Sarbanes-Oxley Act: Compensation Committee. As a member of the Nonqualified Benefits Committee of the Association of Advanced Life Underwriters (AALU), Marla has been actively involved in lobbying efforts to influence and comment upon the recent legislative and regulatory developments as they apply to nonqualified deferred compensation and insurance funded compensation arrangements. Michael G. Goldstein is President and CEO for Summit Alliance Executive Benefits, LLC. Mr. Goldstein is a national authority on executive compensation, taxation, estate planning, and corporate law. A popular lecturer and speaker, he has addressed audiences at hundreds of national conferences and educational institutions. He has authored and edited several books, including BNA Tax Management Estate Planning for the Corporate Executive and numerous articles on the topics of law and finance. Mr. Goldstein has over 39 years of experience in the legal profession as well as the life insurance and retirement planning industry. Prior to joining Summit Alliance he was Senior Vice President and National Director of Strategic Development for Clark Consulting. He has previously been President and Chief Executive Officer for the producer group First Financial Resources, as well as a senior tax partner with the St. Louis, Missouri, office of Husch & Eppenberger, LLC (now Husch Blackwell LLP), where he was Chairman of the firm's Tax and Estate Planning Practice Group and its Advanced Life Underwriting Law Practice Group. In addition, he is a former adjunct professor of taxation in Washington University School of Law's graduate tax program. Mr. Goldstein is a Life member of the American Law Institute, a Fellow of the American Bar Foundation, American College of Tax Counsel and the American College of Trust and Estate Counsel, and a member of the Association for Advanced Life Underwriting where he is also on its Board of Directors. It is believed that he is the only lawyer in the United States who has been elected to all five organizations. Mr. Goldstein earned his bachelor's degree from Tulane University, his J.D. from the University of Missouri Law School, and an LL.M. in taxation from Washington University.

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