Learning Is Fundamental! Knowing the Breadth of EBEC Responsibilities

Much of the Employee Benefits and Executive Compensation (EBEC) practitioner’s responsibilities can fall to the “EB” side of EBEC, usually with a focus on the Employee Retirement Income Security Act (ERISA), as amended by different legislation like HIPAA, COBRA, the Affordable Care Act, and many revenue laws passed since the enactment of ERISA in 1974. Understanding fiduciary compliance and the ins and outs of prohibited transactions can be at issue, as can compliance with the sections of the Internal Revenue Code dealing with benefits, compensation, and knowledge of IRS and DOL fix-it programs for noncompliance. But many practitioners also focus on the “EC” side of EBEC, with concerns including deferred and equity compensation, employment and severance agreements, and sometimes executive compensation disclosures for public companies. This resource kit assembles the primary Practical Guidance EBEC resources a practitioner needs to wade through this expansive practice area.

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Related Content

• Executive Employment Agreement Resource Kit
  Discover more about these often-negotiated documents and the tax rules that should be considered in their execution. Issues often arise during the negotiation, drafting, and review of executive employment agreements, focusing on terms, provisions, and contractual language that implicate economically significant matters.
• Section 409A Resource Kit
  Check out this resource kit providing EBEC practitioners guidance on nonqualified deferred compensation rules under Section 409A of the Internal Revenue Code. Failure to comply with Section 409A is costly because noncompliant deferred amounts will be treated as having been paid to the executive (or other service provider) notwithstanding the intended deferral and will be subject to income tax—and a 20% penalty tax—in the year of the compliance failure.
• Qualified Retirement Plan Notices Resource Kit
  Learn more about plan fiduciary requirements in satisfying various ERISA and Internal Revenue Code notice and disclosure requirements. Reporting and disclosure may require notification not only to participants and eligible employees, but also to their beneficiaries, QDRO alternate payees, and, of course, the IRS, DOL, and sometimes the PBGC.

Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.  

• Employee Benefits & Executive Compensation Key Legal Developments Tracker
  Stay informed on new developments.
  • Retirement Plans
    IRS provides guidance on American Rescue Plan Act of 2021 (ARPA) changes to the funding rules for single employer defined benefit plans, including guidance on the manner and timing of elections permitted under the ARPA. I.R.S. Notice 2021-48.
  • Health and Welfare Plans
    IRS provides supplemental guidance on the application of Section 9501 of the American Rescue Plan Act of 2021, Pub. L. No. 117-2, relating to temporary premium assistance and tax credits for COBRA continuation coverage. I.R.S. Notice 2021-46. The guidance supplements earlier guidance issued under I.R.S. Notice 2021-31 and by the Department of Labor in DOL, COBRA Premium Subsidy.

• Document alerts allow you to stay current on legal developments that affect your practice. Find out how to set up your document alerts.

• New Practical Guidance Content
  • Controlled Group Rules for Employee Benefit Plans Video
  • Asset or Stock Purchase: Form of Transaction and the Impact to Employee Benefit Plans

• Recently Updated Practical Guidance Content
  • EPCRS Correction Rules and Procedures
  • Lifetime Income Benefit Rules for Defined Contribution Plans Under the SECURE Act
  • ESOP Freeze, Wind-Down, and Termination Considerations
  • COBRA Subsidy Rules Under the American Rescue Plan Act: Client Alert Digest

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