Update: The IRS recently extended the deadline for 409A compliance to Dec. 31, 2008. The effective date remains Jan.1, 2008. To attract and retain top talent, trade and professional associations decorate employment contracts with cash bonuses, club memberships, travel benefits and expense reimbursement, but it is the 457(f) deferred compensation plan that can be the most lucrative for CEOs and other executives. Still, in the association community there is some apprehension when it comes to this compensation plan due to its often-confusing restrictions, requirements and rules, and particularly because there’s no guarantee of payment until milestones are met by the… Read More