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Official Summary of the Offshore Deferred Compensation Reform Act (PDF)
Rep. Emanuel/Sen. Kerry via American Benefits Council
Oct. 19, 2007
2 pages. Excerpt: Problem: There is a fundamental issue of equity between middle-class Americans who can elect to defer up to $15,500 of income into qualified plans and an additional $4,000 into their IRA's and higher-income U.S. taxpayers who can defer unlimited amounts offshore. Most recently, the issue has been highlighted by news accounts of U.S. hedge fund managers being able to defer billions of dollars of compensation offshore.
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