Frank A. Daniele


  • Wednesday, November 1, 2006
    The recently enacted Pension Protection Act of 2006 (the 'Act') dramatically changed several longstanding fiduciary responsibility provisions of the Employee Retirement Income Security Act of 1974, as amended ('ERISA'). Of particular importance, the Act: modifies the so-called '25% benefit plan investor test' by counting toward the 25% limit only...
  • Saturday, April 1, 2006
    Editor's Note:Part II of this article will appear in an upcoming issue of The Metropolitan Corporate Counsel. Earlier this year, the SEC proposed extensive revisions to the rules regarding executive and director compensation. Comments are due by April 10. If the SEC's projected 2007 effective date holds, compensation practices followed in 2006 will form...
  • Thursday, December 1, 2005
    Internal Revenue Code Section 409A ("Section 409A") became effective on January 1, 2005. It radically changed the procedures that employers must establish and follow when their employees defer compensation to a later year, and when they receive payments of previously deferred compensation that was not fully vested on December 31, 2004.
  • Tuesday, February 1, 2005
    On December 20, 2004, the Treasury Department and the Internal Revenue Service issued Notice 2005-1, which provides initial guidance under Section 409A of the Internal Revenue Code. Section 409A, enacted as part of the American Jobs Creation Act of 2004, makes sweeping changes to the rules governing nonqualified deferred compensation. The initial guidance...