Action Items
Deferred Compensation
Does your company provide deferred compensation in some form to executives, other employees, directors or independent contractors?
403(b) Tax-Sheltered Annuities
Is your company an educational or other nonprofit organization?
401(k) Plans
Does your company maintain a 401(k) plan?
Consumer-Driven Health Care Plans
Is your company looking for an affordable approach to providing employee health coverage?
Cafeteria Plans
Does your company offer a cafeteria plan?
Deferred Compensation
Does your company provide deferred compensation in some form to executives, other employees, directors or independent contractors?
Final regulations governing nonqualified deferred compensation under Section 409A of the Tax Code require employers to identify all employment arrangements that might defer compensation, analyze the effect of Section 409A on each arrangement, prepare needed plan documents or amendments, and make administrative changes needed for compliance. Noncompliance can trigger substantial tax liability and penalties.
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403(b) Tax-Sheltered Annuities
Is your company an educational or other nonprofit organization?
In July 2007 the IRS released final regulations under Section 403(b) of the Tax Code. These regulations will require new documentation and other changes for tax-sheltered annuity plans.
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401(k) Plans
Does your company maintain a 401(k) plan?
Sponsors need to plan for important changes enacted under the Pension Protection Act of 2006. For example, the Act establishes new rules for automatic enrollment, default investment alternatives, investment advice and plan distributions.
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Consumer-Driven Health Care Plans
Is your company looking for an affordable approach to providing employee health coverage?
These innovative health plans, if properly designed and communicated, make comprehensive health coverage more affordable for both employers and employees. Recent statutory changes increase the attractiveness of these arrangements for employees and employers.
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Cafeteria Plans
Does your company offer a cafeteria plan?
IRS has released new proposed regulations regarding cafeteria plans. Significant changes to cafeteria plans may be needed.
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