other material
confidence high
sentiment neutral
materiality 0.35
W.R. Berkley amends deferred comp plans; adds fund investments and rabbi trust
BERKLEY W R CORP
- Board approved amendment/restatement of Officer and Director deferred comp plans effective Dec 1, 2021.
- Deferrals switched from notional interest rate to deemed investment in selected funds.
- Company authorized a rabbi trust to accumulate assets for plan liabilities; trust assets remain subject to creditors.
- Eligible officers and directors may resume elective deferrals starting Jan 1, 2022.
- Officer plan eligibility: base salary >= $250k; 2021 deferrals prohibited; 2022 elections open.