On May 29, 2007, the U.S. Supreme Court ruled that Title VII of the Civil Rights Act of 1964 limits the damages an employee can recover when isolated discriminatory acts from the distant past result in disparity in the employee’s current level of pay.
On April 10, 2007, the IRS issued its final regulations interpreting the nonqualified deferred compensation requirements of Internal Revenue Code Section 409A. The 400 pages of regulations take effect on January 1, 2008. Employers should begin now to plan for compliance by year-end because all plans and arrangements subject to Section 409A must be in full documentary and operational compliance by December 31, 2007.
