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Highly compensated employees |
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Highly compensated employees. Highly compensated employees are people whose on-the-job earnings are higher than the level the government has established to differentiate this category of worker. In 2007, that amount is $100,000. It is increased from time to time to reflect the impact of inflation. The major consequence of being a member of this group is that the percentage of earnings that highly compensated employees may contribute to their 401(k) or similar plan is determined by the contribution rates of other plan participants who earn less. If lower-paid employees contribute an average of 2% or less, higher-paid employees may contribute up to twice that percentage. If the average is 3% to 8%, higher-paid employees may contribute two percentage points more than the average. And if the average is 8% or higher, the maximum for highly compensated employees is 1.25 times that average. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The ability for the TARP recipient to recover any bonus, retention award or incentive compensation paid to an SEO or any of the 20 next most highly compensated employees based on materially inaccurate statements of earnings or other performance metrics The fund was set up decades ago to provide incentive bonuses to a select group of AIG management and highly compensated employees that they would receive upon their retirement. Highly compensated employees are those employees who were paid more than $105,000 in the past year or own more than a 5 percent interest in the employer. |
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