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Executive Deferred Compensation: The Game Has Changed

By John A. Nixon and Erik T. Hoover
January 26, 2005

Recent corporate scandals have cast a harsh light on executive compensation practices ' including deferred compensation plans benefiting officers, directors and high-level executives. As part of the American Jobs Creation Act (the Act), signed by President Bush on Oct. 22, 2004, Congress added Section 409A to the Internal Revenue Code (IRC). Section 409A imposes numerous restrictions on non-qualified deferred compensation plans (NQDCs) and will introduce a new compliance regime in the executive compensation arena. The new rules are generally effective for deferrals on and after Jan. 1, 2005.

Arrangements Subject to 409A

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