Nonprofit organizations have to compete for talented executives and other key professionals with for-profit companies. However, they face a significant competitive disadvantage with respect to the range of compensation and benefits programs that can be offered. It is not possible to offer equity incentive plans, supplemental deferred-compensation programs are subject to an additional layer of tax restrictions and, since 2018, certain compensation arrangements are subject to the 21 percent excise tax introduced in the 2017 Tax Cuts and Jobs Act.
The speakers will review planning options responsive to the current trend among nonprofit organizations to add performance characteristics to compensation arrangements that align the interests of executives and key professionals with the organization’s strategic and business goals. They will also address the impact of the 2016 Proposed Section 457(f) regulations and the new 21 percent excise tax on plan design options.
You Will Learn:
- How to design compensation and benefits programs that:
- Have sufficient flexibility to effectively deal with the currently uncertain economic environment
- Align the interests of executives and key professionals with the organization’s strategic and business goals
- Mitigate the impact of the 21 percent excise tax
- The advantages and disadvantages of using life insurance-based programs to provide supplemental tax-advantaged savings benefits for highly compensated executives and professionals
Chris, a co-founder of Executive Benefit Solutions, leads the benefits consulting practice supporting EBS’s seven offices nationally. He has over 25 years of executive compensation and benefits consulting experience working with a wide range of clients including large, publicly traded companies, “mid-market” privately held businesses, and non-profit healthcare and other organizations.
He was previously a Managing Director with Retirement Capital Group; an SVP-Consultant with Clark Consulting; a Founding Principal of Lyons Compensation & Benefits (which sold to Clark Consulting in 2001), and a Tax Partner with Ernst & Young in Providence, RI.
Chris holds a BA in Economics from Colgate University, an MBA in Finance from Boston College, and an MS in Taxation from Bryant University; but received the best education of all from the US Army – 173rd Airborne Infantry Brigade. Professional designations earned include CPA, CFP, and CLU.
Marla Aspinwall is a partner at Loeb & Loeb LLP in Los Angeles, where she concentrates her practice in the tax, ERISA, labor and securities aspects of executive compensation for publicly held, private and tax-exempt organizations, including employment agreements, nonqualified deferred compensation, and equity, retirement, incentive and welfare benefit plans. She has extensive knowledge of insurance-funded executive benefits and estate planning arrangements, and also specializes in the tax and business aspects of agricultural cooperative organizations and has represented many large agricultural cooperatives. She earned her juris doctor degree at the University of Southern California Gould School of Law in 1984, where she received the Order of the Coif and served on the Southern California Law Review, and earned her bachelor’s degree in honors English, summa cum laude, from the University of Utah in 1980.
Aspinwall was admitted to the state bar of California in 1984, and was named “Best Lawyer” in tax law in The Best Lawyers in America (2013-2015). She is a member of the American College of Employee Benefits Counsel (ACEBC); the American Bar Association, Employee Benefit Committee; the California Bar Association, Employee Benefit Committee of Tax Section; the Los Angeles County Bar Association, Employee Benefits Committee of Tax Section; the Association of Advanced Life Underwriters (AALU), Nonqualified Plans Committee; the AALU Editorial Board and Contributing Author for AALU Washington Report Newswire; the National Council of Farmer Cooperatives, Legal, Tax and Accounting Committee, Chair of Industry Specialist; and the National Society of Accountants for Cooperatives, Tax Committee.
Registration Fee: $19
Archive: The archive recording will be available after the webinar in your FSPgo account (on the My Account tab).
CE Credits: There are no CE credits available for this program.
Note: This webinar was originally broadcast live on December 15, 2020.