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The compensation and benefits puzzle brings significant costs to every company – costs which have risen dramatically in recent years. Grant Thornton can help you understand the complex accounting and tax rules that apply to your compensation and benefit plans, as well as maximize your business effectiveness, cost efficiency and regulatory compliance.

Understanding the new Section 409A plan document correction program

The “document correction program,” as the IRS refers to it in Notice 2010-6, is intended to motivate taxpayers to review nonqualified deferred compensation plans in order to identify and correct any provisions that fail to comply with Section 409A. This white paper by Manager Jeffrey A. Martin and Partner G. Edgar Adkins, Jr., in our Washington National Tax Office explores the various provisions of the correction program, including eligibility requirements, written document failures that can be corrected, actions and reporting requirements that apply to all document failures corrected under the program, and special amendment period and transition relief.

Market-based long-term incentive plans on the rise

The implementation of performance-based long-term incentive plans are on a dramatic rise. The trend comes largely in response to concerns about the effectiveness and cost of stock options. The financial crisis increased the scrutiny from companies, regulators and shareholders on executive compensation and particularly stock options. Now, an increasing number of companies are looking to longer-term incentive awards. This often means using a measure of share return. Read more in Don Nemerov's article in Executive Compensation Quarterly.

Preparing for new SEC proxy disclosure enhancements: an interview with Don Nemerov

Effective Feb. 28, 2010, the Securities and Exchange Commission (SEC) has adopted amendments that will require registrants to make new or revised disclosures about compensation policies and practices that present material risks to the company; stock and option awards of executives and directors; director and nominee qualifications and legal proceedings; board leadership structure; the board’s role in risk oversight; and potential conflicts of interest of compensation consultants that advise companies and their boards of directors. Watch a 30-minute interview with Grant Thornton's Don Nemerov, Compensation and Benefits Executive Director, on the implications of the new rules.

Meet the needs of your employees, as well as your bottom line

Companies spend a significant amount each year on compensation, benefits and human resources. Of course, you'd like to maximize your rate of return on this investment. Download a quick summary of the services Grant Thornton can provide to help you attract, retain and motivate skilled personnel while managing costs.

This website supports Grant Thornton LLP’s marketing of professional services, and is not written tax advice directed at the particular facts and circumstances of any person. If you are interested in the subject of this document we encourage you to contact us or an independent tax advisor to discuss the potential application to your particular situation. Nothing herein shall be construed as imposing a limitation on any person from disclosing the tax treatment or tax structure of any matter addressed herein. To the extent this document may be considered to contain written tax advice, any written advice contained in, forwarded with, or attached to this document is not intended by Grant Thornton to be used, and cannot be used, by any person for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.