Nonqualified Deferred Compensation Plans

Smith & Downey regularly drafts and implements nonqualified deferred compensation plans, supplemental executive retirement plans, equity-based plans, and other incentive arrangements (e.g., stock option plans and phantom stock plans). The firm helps its clients ensure that such plans comply with the applicable provisions of the Internal Revenue Code (e.g., 409A, 451, 457(b), 457(e)(11), 457(f)) and provides tax advice on the design and operation of such plans.

Further, the firm advises on the impact of the use of rabbi trusts, corporate-owned life insurance, split-dollar life insurance, and other arrangements for the funding of nonqualified plans.

Smith & Downey also assists clients in performing self-audits of their nonqualified plans and helps them remedy any errors using the available IRS correction programs under Code section 409A.

The firm’s attorneys author one of the leading treatises on Nonqualified Deferred Compensation, the Nonqualified Deferred Compensation Answer Book, published annually by Wolters Kluwer.

Smith & Downey's counsel with regard to nonqualified deferred compensation plans is an element of the firm's nationwide work in employee benefits and executive compensation law. For additional information, contact Smith & Downey.

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