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Every year on July 1, Bobby Bonilla collects a check for $1,193,248.20 from the New York Mets. He has done so every July 1 since 2011 and will continue to do so through 2035. The date is so well known that baseball fans simply call it Bobby Bonilla Day.
For Mets fans, it is an annual punchline. For tax folks, it is something else: a reminder that when you get paid can matter almost as much as how much you get paid. READ MORE
Non-qualified deferred compensation plans are increasingly being used by employers as retention tools by including noncompete or “bad actor” forfeiture clauses, according to research released Wednesday by the Plan Sponsor Council of America.
Of 135 companies offering NQDC plans to employees, 30% said they had noncompete clauses in the 2022 report, up from just 11.5% in 2021, according to data provided to PLANADVISER. In addition, 40% of employers said they have a “bad actor” forfeiture provision in 2022’s report, up from 23.7% in 2021. READ MORE
Striking a balance between investors and employees when having a 409A valuation conducted on a company’s share price is more manageable than many CFOs think, a valuation specialist says. READ MORE
Getting the share price valued before it’s needed can lead to over-pricing, which can make employees’ deferred compensation too expensive to access. READ MORE