Members of the Firm’s employee benefits department have a wide breadth of experience with Fortune 100 corporations, governmental agencies, Big Five accounting firms and leading employee benefits consulting firms.
The Firm’s practice in this area includes the following:
- Evaluation, design and drafting of qualified and non-qualified employee benefits programs, current and deferred executive compensation arrangements, and welfare benefits plans, including cost-effective medical programs such as cafeteria plans and flexible spending arrangements.
- Advice in connection with qualifying plans under the Internal Revenue Code and operational compliance with the Code’s coverage and nondiscrimination requirements, including compliance with the IRS Voluntary Compliance Resolution Program, Administrative Policy Regarding Self-Correction and Employee Plans Closing Agreement Program.
- Assistance in performing due diligence with respect to compliance of compensation and benefits programs with the Employee Retirement Income Security Act of 1974 (“ERISA”) and related provisions of the Internal Revenue Code for corporate mergers and acquisitions.
- Assistance with respect to statutory and regulatory compliance for welfare benefit plans.
- Advice regarding compliance with the fiduciary responsibility requirements of ERISA and the obtaining of prohibited transaction exemptions from the U.S. Department of Labor.
- Advice regarding the taxation of employee benefits and compensation programs.
- Assistance in the planning and implementation of effective employee benefits and compensation communication programs.
- Assistance in the design of efficient record-keeping systems that reflect all operative legal documents and that have the capability to handle the complex documentation necessary for fiduciary compliance under ERISA.
- Advice with respect to plan terminations pursuant to Pension Benefit Guaranty Corporation (“PBGC”) rules for “standard” and “distress” terminations; satisfaction of PBGC requirements for certain underfunded plans; and negotiation with the PBGC with regard to threatened termination of a plan due to breakup of a controlled group sponsor of an underfunded plan.
- Assistance in evaluating the appropriateness of terminating overfunded, defined benefit pension plans to recover excess assets and in securing governmental approvals and designing suitable replacement plans.
Partners & Counsel
The following partners and counsel practice in this area:
