Summary
The Senate Finance Committee Approves Deferred Compensation Limits, the Small Business and Work Opportunity Act of 2007 (the "Act") contains a provision that limits the amount eligible to be deferred pursuant to a nonqualified deferred compensation (NQDC) plan. The Act, for which the full text of the legislative language has now been released, has been passed by the full Senate and the issue moves back to the House of Representatives for consideration and/or amendment. Should the provision limiting deferred compensation amounts become law, it could impact participants in many traditional deferral plans.
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Extract
Senate Passes Deferred Compensation Limits
The specific legislative language of the deferred compensation provision refers to amounts deferred by a participant. Under ...
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