Tax-exempt employers should re-evaluate their compensation programs following the recent expansion of Internal Revenue Code Section 4960. In general, Section 4960 imposes an excise tax on tax-exempt employers when an employee receives compensation exceeding $1 million or severance payments greater than three times their historic pay. Previously, this excise tax applied only to a limited group of current and former employees, but the expanded rules now cover virtually all employees.
In this webinar, Vorys attorneys Jen Dunsizer and Wendy Swary will explain the changes to Section 4960 and outline steps tax-exempt employers can take to mitigate their excise tax exposure.
This program is approved for 1 hour of Ohio CLE.
Jen is a partner in the Vorys Columbus office. Her practice focuses on employee benefits and executive compensation plans. As former managing corporate counsel for a large, publicly traded employer, she has extensive experience in the design, implementation and administration of retirement plans, deferred compensation, health and welfare plans, insurance benefits, short- and long-term cash and equity-based incentive plans, and early retirement programs; public company disclosure obligations and merger and acquisition activity.
Wendy is a partner in the Vorys Columbus office. She advises a wide variety of clients on the design, implementation and administration of executive employment agreements and separation agreements, retirement plans, deferred compensation, equity-based compensation, incentive compensation, health and welfare plans, and fringe benefits, as well as payroll matters. Wendy also has experience in-house working as employee benefits and tax counsel for a large public university for more than a decade.
