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SEC reporting rule causes cutback in executive perks

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in Compensation and Benefits,Employee Benefits Program,Human Resources

Don’t want to disclose more information about your executives’ compensation and benefits packages? Scale them back. That’s what more organizations are doing since the Securities and Exchange Commission (SEC) in late 2006 required public companies to start reporting perks valued at $10,000 (down from the prior reporting minimum of $50,000).

A new report by compensation consultant Equilar says the median value of perks such as financial planning services, use of the corporate jet and personal security dipped between 2005 and the time organizations had to start revealing them. One company even said it would no longer offer any fringe benefits to its executives.

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