Employment Law This Week: Crack Down on Non-Solicitation Agreements, DOL Opinion Letters, New NLRB Member, State Law Developments

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5. Tip of the Week

John Tomaszewski, Jr., from BDO USA, LLP, offers advice on updating compensation structures and benefits policies in 2018:

“With the tax reform changes becoming effective, there are a few key areas relating to executive compensation and benefits that employers should take action on now. The biggest changes impact executive compensation for public companies and tax-exempt organizations. For public companies, more executives and more compensation will be subject to the annual 1 million dollar tax-deduction limit. For tax-exempt organizations, there’s a new 21% tax imposed on the employer for compensation paid to certain highly compensated employees in a year in excess of a million dollars, and on termination payments in excess of a calculated threshold. These changes may dramatically shift how executive compensation packages are structured for these employers.”

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