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90-minute live streaming program
  • January 25
  • 1:00 - 2:30 pm EST

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Section 457(f): Compensation Guide for Nonprofits

January 25

Gain a better understanding of the rules and requirements of section 457(f) plans.

You will acquire a sound understanding of the special rules that apply to the deferred compensation of nonprofit and state and local government employees under the Internal Revenue Code. In doing so, you will learn what you need to do to do keep routine paid leave and similar arrangements such as sabbaticals and severance from being treated by the IRS as deferred compensation. Finally, you will learn the key issues and alternatives in designing executive deferred compensation and ‘golden handcuffs' arrangements for executives and other select employees of nonprofit and state and local government employers.

Learning Objectives

- You will be able to describe how the rules for nonqualified deferred compensation for nonprofit and state and local governmental employers differ from those applicable in the private sector.

- You will be able to discuss the uses of Section 457(f) arrangements for executives of nonprofits and state and local governments.

- You will be able to explain why the concept of substantial risk of forfeiture is important to Section 457(f) arrangements and what constitutes a substantial risk of forfeiture under the IRS's proposed regulations.

- You will be able to recognize arrangements that may fall under Section 457(f), and how to avoid Section 457(f)'s application under the proposed regulations.

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Agenda

457(f) Basics
  • 457(f) Is a Very Restrictive Rule Specifically Adopted by Congress to Limit Deferred Compensation Opportunities for Nonprofit and State and Local Government Executives
  • Contrast Between 457(b) and 457(f)
  • Contrast Between 457(f) and Private Sector Rules
  • 457(f) and the 'Short-Term Deferral' Exception to Section 409A
  • ERISA Issues for Nonprofits
  • Uncertain Scope of 457(f) Without Regulations
Typical 457(f) Agreements
  • Used as 'Golden Handcuffs'
  • Limited Tax Benefits of 'Golden Handcuffs' Arrangements
  • Importance of 'Substantial Risk of Forfeiture' and 'Vesting'
  • Use of 'Rolling Risk of Forfeiture' to Postpone Taxable Event
  • If 'Informally Funded,' Ownership of Assets Remains With Employer
  • Creditor Protection Issues
  • ERISA Top-Hat Issue for Nonprofits
  • No Transferability
Proposed Regulations
  • Guidance on 'Substantial Risk of Forfeiture' (SRF)
    • Treatment of Noncompetition Agreements
    • Involuntary Termination as Srf
    • Treatment of 'Rolling Forfeiture Risk'
  • Guidance on Scope
    • Recurring PartYear Compensation (e.g., for Faculty) Generally OK
    • Increased Clarity for Bona Fide Severance Pay Plans
  • Calculation of Inclusion Amount
Examples of Plan Designs That Are Permissible Under Proposed Regulations
  • Rolling Risk of Forfeiture for Executive Employment and Retention Agreements
  • Limited Use of Noncompetition Agreements
  • Vesting With Tax Distributions Along the Way and Deferred Payouts
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on January 25, 2017.

Call 1-866-352-9540 for further credit information.

  • TX CPE 1.5
     

Live Webinar Registration

  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • GA CLE 1.5
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MO CLE 1.8
     
  • This program has been approved by the Missouri Bar for 1.8 hours of CLE.
     
  • MS CLE 1.5
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.5 credit hours.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • NC CLE 1.5
     
  • This program has been approved by the North Carolina State Bar Board of Continuing Legal Education for 1.5 CLE hours.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.5
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.5 hours of credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • HR Certification Institute 1.5
     
  • This program has been approved for 1.5 recertification credit hours toward general recertification through the HR Certification Institute. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • SHRM 1.5
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.5 PDC(s) for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org.
     
  • CPE 1.8 including Personnel/HR 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www. learningmarket.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Personnel/HR for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Advisory Services for 1.5 hours.
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.5 hours of continuing professional education.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York or New Jersey or Kansas. Other states do not need to supply the CLE Code to apply for CLE credit.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York or New Jersey or Kansas. Other states do not need to supply the CLE Code to apply for CLE credit.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MO CLE 1.8
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York or New Jersey or Kansas. Other states do not need to supply the CLE Code to apply for CLE credit.

Who should attend?

This live webinar is designed for executive directors, officers, controllers, CPAs, accountants, CFOs, board members, human resource and payroll professionals, compensation managers, accountants, and attorneys.

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Can't Attend?

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Luke D. Bailey

Luke D. Bailey

Strasburger & Price, LLP

  • Partner in the office of Strasburger & Price, LLP
  • Practice emphasizes all aspects of employee benefits and executive compensation
  • Conducts regular seminars and workshops on numerous employee benefits and executive compensation issues
  • Author of several publications related to the areas of employee benefits and executive compensation
  • J.D. degree, University of California at Berkeley (Boalt Hall), 1982, Order of the Coif; A.B. degree, Occidental College, 1974, cum laude
  • Can be contacted at [email protected] or 214-621-4572
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Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 399659
Published 2017
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