According to a statement by New York Attorney General Andrew Cuomo, several AIG employees agreed to return approximately $50 million in bonus payments.  This announcement seems to have quieted the AIG bonus furor for the time being. Meanwhile, the U.S. Senate appears to be taking a slower approach in drafting a tax bill aimed at recouping bonuses paid by recipients of government assistance with some reports indicating the bill may be dropped altogether. Continued government restrictions have even led some firms to decide not to participate in the various programs. We now wait to see if the environment of limiting executive compensation will become the standard for all public companies. We at Westlaw Business recognize the significance of bonus payments this year and have gathered some materials to assist you as you prepare to disclose issues surrounding your company’s bonuses.

Published:  March 24, 2009