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Tax-Qualified Retirement Plans The firm's Tax & Employee Benefits Practice Group ("Tax/Benefits Group") handles all matters concerning drafting and compliance related to the following types of plans: 401(k), 403(b), 457, profit sharing, defined benefit, ESOP, and cash balance. Our representation includes that of trustees of jointly administered multiemployer pension plans. Group Welfare Benefit Plans The Tax/Benefits Group also handles all matters concerning drafting and compliance related to the following types of plans: health, life, long term disability, short term disability, accidental death and dismemberment, severance, cafeteria, health spending accounts, and dependent care spending accounts. The Tax/Benefits Group's representation includes that of trustees of jointly administered multiemployer welfare plans. Executive Compensation Executive and director compensation for many organizations is a critical issue. The Tax/Benefits Group provides expert advice with respect to equity based compensation arrangements. In this regard, the Tax/Benefit's Group's attorneys draft and handle all compliance related matters concerning the following types of arrangements for rank and file employees, officers and directors including: stock option plans, stock appreciation rights, phantom and restricted stock arrangements. The Tax/Benefits Group's expertise also includes change in control arrangements, executive employment and severance agreements. With respect to "top hat" non-qualified plans, the Tax/Benefits Group drafts and handles all compliance issues related to the following arrangements: deferred compensation plans, supplemental executive retirement plans (SERPs), and supplemental benefit plans. This includes the analysis necessary to define the employee group eligible to participate in non-qualified pension arrangements. It also includes the review and establishment of funding vehicles like rabbi trusts. Incentive Compensation Cash compensation is a powerful tool to motivate employees. The Tax/Benefits Group advises clients regarding the implementation of individual and group annual and long term bonus incentive arrangements and incentive retention plans. Workforce Reduction Plans For a variety of reasons, employers periodically must reduce their workforce to achieve business objectives. The Tax/Benefits Group advises clients regarding the following types of arrangements: early retirement incentive programs, and reductions-in-force both voluntary and involuntary. This advice includes obtaining effective releases of claims including those that may be brought under ADEA. ERISA Litigation The company and/or other named fiduciaries may be sued with respect to their sponsorship or administration of benefits and compensation plans. The Tax/Benefits Group represents such entities in the administrative review and the litigation phases of claims. This practice group also advises the firm's clients on claims avoidance and management strategies. Compliance Numerous agencies including the Department of Labor (DOL) and the Internal Revenue Service (IRS) and numerous statutes including ERISA, Internal Revenue Code, HIPAA, and COBRA mandate legal compliance with respect to employee benefit arrangements. The Tax/Benefits Group advises clients with respect to these matters and also assists clients with related issues that arise including IRS or DOL audits, ERISA fiduciary compliance, and plan governance issues. Corporate Transactions Many corporate transactions involve numerous employee benefits and
compensation issues. The lawyers in the Tax/Benefits Group are routinely
involved in all phases of these complex transactions, including the
conduct of due diligence, drafting and negotiation of contract terms
and conditions, and the analyzing and planning for the transaction's
impact upon the compensation and benefits structures of the surviving
entity.
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