The Impact Of IRC Section 409A On Severance Plans

Law360, New York (June 19, 2007, 12:00 AM EDT) -- Changes in the tax law intended to regulate deferred compensation are having a significant impact on severance pay plans and severance agreements, especially those for executives of public companies. Employers who have not already reviewed their plans to determine if they are in compliance will generally have until the end of 2007 to review and, if necessary, revise their plans.

The change is due to the enactment of Internal Revenue Code Section 409A in 2004, which is now having a significant impact on executive compensation plans...
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