The swaps provide that the entity will receive variable
payments from a counterparty to offset the variable payments being made on the debt instrument, and make fixed payments to the counterparty essentially converting the variable rate liability to one with a fixed rate.
Employees with base salaries equal to or above the competitive external market are only eligible to receive variable
pay awards until their base salaries fall below the competitive market.
In sum, all three concepts apply under the BIC exemption if you receive variable
It is not the intent of the State to receive variable
services per State Agency under multiple Contractor programs, unless such services are provided under State accepted balance of product line which results in reduced costs of services.
Although many more employees receive variable
compensation on a regular basis than ever before, few employees have the necessary income-protection coverage to protect that valuable asset.
Imposing fiduciary status on the group left uncovered by the exclusions means those advisers will violate the prohibited transaction rules of the Employee Retirement Income Security Act (ERISA) if they receive variable
compensation, such as commissions, whose amount may increase or decrease depending on the selected investment.
Therefore, advisers that receive variable
compensation generally are prohibited from offering such advice.