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Benefits, Deferred Compensation & ERISA

Overview

Parker Poe assists clients in designing, establishing and operating tax-qualified retirement plans, including 401(k) plans and 403(b) plans, as well as other arrangements. Our work involves advising clients how to correct mistakes made in the operation of retirement plans and, where required, preparing requests for approval of corrections by the Internal Revenue Service or the United States Department of Labor. We have represented clients in resolving government audits and in performing compliance checks to ensure that such plans are operated in accordance with all relevant laws. We also assist clients in the development and establishment of executive compensation arrangements that involve phantom stock, stock appreciation rights, stock options and bonus payments. Such advice includes how to comply with the deferred compensation rules contained in Internal Revenue Code §§ 409A and 457 as well as other tax statutes and steps required to ensure that only reasonable compensation is paid to executives. Our clients seeking executive compensation advice include both for-profit and tax-exempt organizations.

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