Seth Safra

Partner

Seth J. Safra is a partner in Proskauer’s Employee Benefits & Executive Compensation Group. Described by clients as “extremely knowledgeable, practical, and strategic,” Seth advises clients on compensation and benefit programs.

Seth’s experience covers a broad range of retirement plan designs, from traditional defined benefit to cash balance and floor-offset arrangements, ESOPs and 401(k) plans—often coordinating qualified and non-qualified arrangements. Seth also advises on ERISA compliance for investments, including the U.S. Department of Labor’s new conflict of interest (fiduciary) rules.

On the health and welfare side, Seth helps employers provide benefits that are cost-effective and competitive. He advises on health plans with HSAs and HRAs and also on severance and fringe benefit arrangements.

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Regulations on Executive Compensation Excise Tax (Section 4960) for Tax-Exempt Employer and Their Affiliates Finalized

By Seth Safra, Amanda H. Nussbaum, James Huffman and Katrine Magas on February 2, 2021 Posted in Executive Compensation, Exempt Organizations

Employers that are tax-exempt or have tax-exempt affiliates (for example, a foundation) should pay close attention to a 21% excise tax under Section 4960 of the Internal Revenue Code on certain executive compensation. Final Regulations under Section 4960 are described here. The discussion includes traps for the unwary. Please reach out to your Proskauer contact … Continue Reading

10 Keys to Proposed Regulations Under Section 4960 (Executive Compensation for Tax-Exempt Organizations and their Affiliates)

By Amanda H. Nussbaum, James Huffman, Katrine Magas and Seth Safra on July 28, 2020 Posted in Executive Compensation, Exempt Organizations

Employers that are tax-exempt or have tax-exempt affiliates (for example, a foundation) should pay close attention to a 21% excise tax under Section 4960 of the Internal Revenue Code on certain executive compensation. Proposed Regulations under Section 4960 are described here. The discussion includes traps for the unwary. Please reach out to your Proskauer contact … Continue Reading

IRS Issues Guidance on COVID-19-Related Tax Credits Available to Employers Under the FFCRA

By Amanda H. Nussbaum, David S. Miller, Martin T. Hamilton, Seth Safra and Sean Webb on April 9, 2020 Posted in Coronavirus, In the news, Tax Policy

On April 1, 2020, the Internal Revenue Service (“IRS”) posted on its website a series of frequently asked questions (“FAQs”) that explain the COVID-19-related tax credits available to small and midsize employers who are required to provide paid leave under the Families First Coronavirus Response Act (the “FFCRA”), which was signed into law by President … Continue Reading

The CARES Act and Compensation – What Employers Need to Know

By Andrea Rattner, Colleen Hart, Joshua Miller, Katrine Magas, Kate Napalkova and Seth Safra on April 2, 2020 Posted in Coronavirus, Employee Benefits, Executive Compensation, In the news

On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) (H.R. 748). In this blog post we (1) lay out an initial action plan for employers considering obtaining relief under the CARES Act, (2) summarize the compensation-related provisions of the CARES Act, and (3) identify … Continue Reading

COVID-19 Impact on Executive Compensation – Salary/Wage Reductions

By Andrea Rattner, Colleen Hart, Joshua Miller, Katrine Magas, Kate Napalkova and Seth Safra on March 27, 2020 Posted in Coronavirus, Employee Benefits, Executive Compensation, In the news, SEC

We continue our blog series on COVID-19 implications on executive compensation matters with a post that addresses salary or wage reductions on a company-wide or targeted basis. Companies impacted by the COVID-19 pandemic, including the concomitant widespread shelter in place orders, may be considering pay cuts for some or all of their workforce, either in … Continue Reading

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Seth Safra