Executive benefits (BenefitsLink.com)Headlines re Executive benefits, gathered by BenefitsLink.comText of Corporate Executive Compensation Accountability and Transparency Act, S. 2866 (PDF)- (Found July 8, 2008 ) 24 pages. Excerpt: "To require greater disclosure of senior corporate officer compensation, to empower shareholders and investors to protect themselves from fraud, to limit conflicts of interest in determining senior corporate officer compensation, to ensure integrity in Federal contracting, to close corporate tax loopholes utilized to subsidize senior corporate officer compensation, and for other purposes." (American Benefits Council)http://www.americanbenefitscouncil.org/documents/s_2866_110th.pdf Guidance Overview Summary of FASB Statement 123R Share-Based Payment (Revised 050808) (PDF)- (Found July 8, 2008 ) Excerpt: "Financial Accounting Standards Board (FASB) Statement No. 123 (revised 2004), Shared-Based Payment (Statement 123R) repeals the longstanding 'intrinsic value' method of accounting for equity compensation prescribed by APB Opinion No. 25 (Opinion 25), and replaces original Statement 123 with a mandate that generally all equity awards granted to employees be accounted for at 'fair value.'" (Frederic W. Cook & Co., Inc.)http://www.fwcook.com/alert_letters/-05-_Revised%205-8-08_%20Summary%20of%20FASB%20Stateme... Opinion U.S. House of Representative Committee Again Approves Restrictions on Offshore Nonqualified Deferred Compensation- (Found July 8, 2008 ) Excerpt: "This week, the House Ways and Means Committee approved legislation extending corporate tax breaks for one year and paying for them by, among other things, imposing limits on offshore nonqualified deferred compensation. Although the provisions are aimed at hedge funds in low tax countries, the Energy and Tax Incentives Act of 2008 (H.R. 6049) would arguably treat stock appreciation rights, restricted stock units and other performance-based compensation as nonqualified deferred...http://www.hrpolicy.org/news/news_detail.asp?ID=3565 Opinion Updated American Benefits Council Talking Points on the Offshore Nonqualified Deferred Compensation Provision (PDF)- (Found July 8, 2008 ) Excerpt: "This provision should be rejected for the following reasons . . . It is extremely broad and would apply to non-abusive compensation practices. . . . It targets equity compensation. . . .It targets performance-based compensation. . . . It would create great uncertainty and would be virtually impossible to administer. . . . It is retroactive." (American Benefits Council)http://www.americanbenefitscouncil.org/documents/nqdc_offshore_tkpts051608.pdf Guidance Overview House Ways And Means Approves Tax Extenders Bill, Includes Nonqualified Deferred Compensation Tax- (Found July 8, 2008 ) Excerpt: "The cost of the bill would be primarily offset by a proposed tax on deferred compensation payable by certain offshore entities. Under this revenue-raising provision, hedge fund managers would be prevented from deferring taxes on compensation paid through offshore tax shelters." (Hewitt Associates)http://www.hewittassociates.com/Intl/NA/en-US/KnowledgeCenter/LegislativeUpdates/Washingto... Mercer Issues Survey on Prevalence of Car Benefits- (Found July 8, 2008 ) Excerpt: "Mercer's 2008 International Car Policies report is a valuable reference guide that can help companies define new strategies and optimize their car policies by highlighting differences in practices across key markets, identifying cost-saving measures and benchmarking an organization's car policy against others in the market. The new report provides information on allocation policies, cash alternatives to cars and associated tax regulations in 63 countries." (Mercer LLC)http://www.mercer.com/referencecontent.jhtml?idContent=1306795#3 Comprehensive Executive Compensation 'Reform' Bill Introduced into Senate (PDF)- (Found July 8, 2008 ) 4 pages. Excerpt: "Senator Clinton's bill is a broad response to concerns over executive pay practices at publicly traded companies, and it is currently unclear whether it will be voted out of Committee. As of the date of this writing, there are no co-sponsors; however, it is realistic to expect that similar legislation will be introduced next year under a new Administration." (Frederic W. Cook & Co., Inc.)http://www.fwcook.com/alert_letters/05-20-08-Comprehensive-Executive-Compensation-Reform-B... Consider a Matrix of the Key Roles and Responsibilities for the Compensation Process and Governance- (Found July 8, 2008 ) Excerpt: "As the executive compensation process continues to become more complex important, and investors, the media and some plaintiffs' lawyers continue to focus on it, more companies and compensation committees are creating a matrix of the key roles and responsibilities of the parties involved in compensation and governance. These parties include the Compensation Committee, the full Board, the CEO, and HR and other company management, inside counsel andor outside counsel and the...http://www.winston.com/index.cfm?contentID=19&itemID=159&itemType=25&postid=58 Long-Term Incentives and Golden Handcuffs in the People's Republic of China- (Found July 8, 2008 ) Excerpt: "The globalization of Mainland China has brought more and more competition for top talent within the PRC placing a premium on how companies encourage the performance and loyalty of their key employees." (Paul, Hastings, Janofsky & Walker LLP)http://paulhastings.com/publicationDetail.aspx?publicationID=911 Guidance Overview Newly Minted Rules for Deducting Performance Compensation under Section 162(m) (PDF)- (Found July 8, 2008 ) 1 page. Excerpt: "The new ruling will not apply for performance periods beginning on or before January 1, 2009 or for compensation paid pursuant to employment contracts in effect on February 21, 2008 (excluding renewals, either automatic or by agreement)." (Hanson Bridgett LLP)http://www.hansonbridgett.com/docs/newsletters/employee_benefits_law_update/EBenefitsMarch... |