| Attend upcoming webinar and earn continuing education credits. | Tax-Exempt Organizations: Executive Compensation & Benefits One Year After Tax Reform | | | | | | | | March | | | | 27 | | 3 pm - 4:30 pm ET | | | Presenters: Marc Fosse, and Josephine Gartrell | | | Credits: CPE, CLE in all states (Credit Details) | | | Can't attend live? By registering, you will be able to view the course live, view a recording at any time after the live presentation, or both. | | | Viewing Options: View on your computer, tablet, or smartphone | | | | | | | | | | | | The regulations under Section 457(f) provide planning opportunities for nonprofit entities in structuring deferred compensation and benefits for executives. This has become particularly important with the recent passage of tax reform legislation that adds a 21% tax penalty on most tax-exempt organizations that pay their "covered employees" compensation that either exceeds $1 million for the taxable year or is treated as an "excess parachute payment." Compensation that is no longer subject to a substantial risk of forfeiture (i.e., "vested") as defined under IRC Section 457(f) will be included for calculating these amounts in the year the compensation vests, even if it is paid, or taxed, in a subsequent year. Employee benefits and ERISA counsel for nonprofit entities will need to master the ins and outs of IRC Section 457 and the proposed 457 regulations in order to advise their clients on how to structure compensation arrangements to not only maximize tax benefits for the executives and the organization, but also to minimize the amounts that will exceed the $1 million threshold or be treated as excess parachute payments. In this practical webinar, you will learn from a critical analysis of IRS Section 457(f) regulations, identify implications of tax reform, and receive guidance on opportunities and limitations in structuring executive compensation plans for tax-exempt organizations. Upon course completion, you will be able to: - Define IRC Section 457
- Outline exceptions to Application of 457(f)
- Recognize the interaction between 457(f) and 409A guidance
- Identify substantial risks of forfeiture and deferred compensation, including:
- Noncompete covenants
- "Rolling risk of forfeiture"
- Separation Pay Plans
- Evaluate practical applications of 457(f) regulations
- Identify other tax reform provisions affecting employ benefits at tax exempt organizations
- Describe the 21 percent excise tax on payments over $1,000,000 or excess parachute payment, including:
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- Who is a covered employee?
- What is an excess parachute payment?
- Who is an applicable tax-exempt organization?
- Plan vesting schedules and timing of cash payouts
- Determine when deferral of current base salary is permitted
- Evaluate whether a plan falls under both 409A and 457(f)
| | | | | | | | | | Mr. Marc Fosse focuses on all the tax, securities, corporate, and accounting issues related to executive and equity compensation arrangements. He works with publicly traded, private, non-profit and government clients in the design, implementation, and operation of domestic and international executive nonqualified and supplemental deferred compensation plans, as well as equity-based and other long-term incentive compensation arrangements. He regularly advises clients regarding handling of employee benefit matters in corporate mergers, acquisitions, divestitures, initial public offerings, and other corporate transactions. | | | | |  | | | | Josephine Gartrell, Director, Talent & Rewards, has over twenty years of experience specializing in compensation strategy and design in tax-exempt organizations. She co-leads Willis Towers Watson's higher education talent and rewards practice and heads the practice group's NCAA athletics division. She works with Boards of Trustees/Regents, committees of the Board, athletic directors, and other senior leadership to design compensation strategies that align with achievement of their performance goals. Ms. Gartrell has deep technical knowledge related to compensation, including executive compensation; benchmarking for enterprise shared services positions; benchmarking for coaches, assistant coaches, athletic directors, and staff; short-term and long-term incentive plan design; buy-out/severance agreements; retention; prevalence of benefits and perquisites; deferred compensation; retirement; total compensation philosophy; governance; compliance issues; and reasonableness of executive pay. She also assists with employment agreement/extension negotiations and drafting. She holds a J.D. from the University of San Diego School of Law. She is a Certified Executive Compensation Professional, and a member of World@Work. | | | | | | | | | | | ● Earn continuing education credit for no additional fee
● Access courses on your computer, tablet, or smartphone
● More than 75 live webinars each month
● More than 1,500 on-demand courses | | | | | | |
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