Your employee benefit plans represent significant payroll dollars and are a critical component of your human resource strategy. We help you structure and administer these plans with an eye toward the financial and human resource implications as well as the legal requirements.
Our attorneys go beyond plan design and administration, addressing matters such as taxation, employee communication, fiduciary issues, securities compliance and issues connected to mergers and acquisitions, corporate spin-offs and reductions in force. We also work with investment managers and advisors on complex issues associated with managing ERISA plan assets.
Retirement plans. Drawing on substantial experience and up-to-date knowledge of regulatory and tax developments, our attorneys provide superlative guidance on the design, administration and fiduciary issues embedded in all types of qualified retirement plans, including defined benefit, cash balance, profit sharing, 401(k) and employee stock ownership plans.
We consistently address issues ranging from drafting plan and trust documents to match client needs and ERISA requirements, the Internal Revenue Code and securities law, to the deductibility of contributions and taxation of distributions. We also advise on employee communication matters and a wide variety of issues connected to mergers and acquisitions, corporate spin-offs and reductions in force, as well as fiduciary matters such as trust management and avoiding prohibited transactions.
Welfare plans. Your welfare benefits—which may include insured and self-funded health, life and disability benefits, as well as medical and dependent care flex accounts and severance benefits—are a critical and costly part of your human resource strategy. We can help you get the most leverage from these benefits while providing leadership on the complex legal obligations stemming from laws such as ERISA, COBRA, HIPAA, PPACA (health care reform) and the Internal Revenue Code, as well as state laws.
Employee stock ownership plans (ESOPs). You may have an ESOP or want to know the potential benefits. While the ESOP rules are complex and contingent upon your particular situation, we can provide skilled and comprehensive counsel with respect to designing and using ESOPs, based on a sound understanding of what they can accomplish, how they work and the associated tax incentives. Our attorneys can help you address such important considerations as the following:
- Eligibility requirements for stock purchased by an ESOP
- Determination of which employees will participate in the ESOP
- Special rules for ESOPs sponsored by S corporations
- Participant voting rights
- Diversification of liquidity requirements