Employers with deferred compensation arrangements that are subject to US Internal Revenue Code Section 457A have only until the end of 2011 to amend their plans to secure certain transition relief for amounts attributable to services performed prior to 2009 (“grandfathered amounts”). Under the transition relief, an employer that amends its deferred compensation arrangement to accelerate the distribution of grandfathered amounts to the year in which such amounts become taxable under Code Section 457A will not be treated as violating the anti-acceleration rule of Code Section 409A and triggering adverse tax consequences thereunder, but only if such amendment is in writing and effective on or before December 31, 2011.

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