ERIC memorandum template
Legislative Documents


<nobr>Oct 4, 2004</nobr>

Nonqualified Deferred Compensation (NQDC)
Description of Johnson Amendment

The amendment makes technical changes to the proposed legislation on NQDC. The amendments are consistent with eliminating abusive arrangements and provide bright-line rules on a going forward basis for NQDC. These modifications are needed to ensure that employers can satisfy the new rules on a timely basis; that participants in non-abusive arrangements are not improperly penalized; and that employers may continue to offer appropriate NQDC and equity arrangements that will assist employees in saving for their retirement and satisfy retention goals.
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Johnson Amendment

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