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ARTICLE · 14 NOVEMBER 2017

Deferred Compensation May Live To See Another Day

Smith Gambrell & Russell
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In an about face, a last minute amendment introduced yesterday to the House Tax Cuts and Jobs Act (the "Act") would eliminate changes to non-qualified deferred compensation ...

United StatesEmployment and HR
Laura Miller Andrew
Laura Miller Andrew
Andrew Fawbush
Andrew Fawbush
Lisa Carrasco
Lisa Carrasco
Quinn Baker
Quinn Baker
Brandon Sherlinski
Brandon Sherlinski
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In an about face, a last minute amendment introduced yesterday to the House Tax Cuts and Jobs Act (the "Act") would eliminate changes to non-qualified deferred compensation contained in the original draft of the Act. Our alert regarding these proposed changes can be found here. With this amendment, the current non-qualified deferred compensation regime under Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"), is preserved. The amendment also eliminates changes that were proposed to Section 457 of the Code that would have effectively eliminated deferred compensation plans for tax-exempt organizations. The House Ways and Means Committee has now approved the Act, with this amendment.

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