Golden parachute payments and agreements.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) Any pension or retirement plan that is qualified (or is intended to be qualified) under section 401 of the Internal Revenue Code of 1986 (26 U.S.C. 401); (2) Any “employee welfare benefit plan” as that term is defined in section 3(1) of the Employee Retirement Income Security Act of 1974, as amended (29 U.S.C. 1002(1)), other than: (i) Any deferred compensation plan or arrangement; and (ii) Any severance pay plan or agreement; (3) Any benefit plan that: (i) Is a “nondiscriminatory employee plan or program” for the purposes of section 280G of the Internal Revenue Code of 1986 (26 U.S.C. 280G) and applicable regulations; or (ii) Has been submitted to the Director for review in accordance with this part and that the Director has determined to be nondiscriminatory, unless such a plan is otherwise specifically addressed by this part; (4) Any “bona fide deferred compensation plan or arrangement” as defined in this part provided that the plan: (i) Was in effect for, and not materially amended to increase benefits payable thereunder (except for changes required by law) within, the one-year period prior to the regulated entity or the OF becoming a troubled institution; or (ii) Has been determined to be permissible by the Director; (5) Any payment made by reason of: (i) Death; or (ii) Termination caused by disability of the affiliated party; and (6) Any severance or similar payment that is required to be made pursuant to a state statute that is applicable to all employers w

official document · source cfr-2024 · id 12:§ 1231.3