Executive Benefits: Impact of Tax Reform


January 2018

This webinar addresses how the Tax Cuts and Jobs Act affects executive compensation. In particular, new Section 4960 of the tax code imposes a 21% excise tax on credit unions and other tax-exempt employers for providing compensation in excess of $1 million to any individual and for paying "parachute payments."  Our experts will discuss how to determine if your credit union is affected and adjustments you can make to minimize or eliminate the taxes.

BFB Gallagher can help you restructure your plans to reduce or mitigate your excise tax. Contact us to schedule a 30-minute discovery call »

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Executive Benefits: Impact of Tax Reform (Webinar) | BFB Gallagher 2018 from NAFCU Services Corporation


Expert Presenters

Jeremy DeBruin, Vice President, BFB Gallagher

Jeremy DeBruin has more than 15 years of experience in the financial services industry, specializing in the design and implementation of nonqualified executive benefit plans. Jeremy consults with executives and boards to develop strategic benefit programs that focus on retaining, attracting, and rewarding their key people. Jeremy is a published author and national speaker at credit union industry events. In 2016 he presented “Executive Benefits: Top Three Trends” at both the NAFCU Board of Directors and Supervisory Committee Conference and the Moss Adams Credit Union Conference. He earned a Bachelor of Science in Business Economics from the University of California–Los Angeles, and holds FINRA series 7 and 63 licenses. Jeremy lives in Northern California with his wife and three children.

Kirk Sherman, Partner, Sherman & Patterson

Kirk, a partner with Sherman & Patterson, Ltd., focuses his practice on executive compensation in tax-exempt entities. He works with boards, executives, and consultants in designing and documenting employment and severance agreements, deferred compensation plans, split dollar agreements, and other executive benefits that comply with applicable tax and regulatory requirements. Kirk works closely with credit unions, healthcare associations, hospitals, and healthcare systems. He earned his Juris Doctor degree at the University of Virginia and a Bachelor of Arts degree in economics from Brigham Young University.