Our Employee Benefits and Executive Compensation practice group counsels public and private companies of all sizes and across all industries to help address the full range of legal, financial, and administrative issues relating to their compensation and benefit plans in order to attract, motivate, and retain employees. In tandem with our firm’s national platform, our business-minded attorneys partner with clients to achieve their employee benefit and executive compensation objectives.
Many of our employee benefits professionals have prior backgrounds with well-known actuarial, accounting, and consulting firms, as well as significant in-house experience with the government agencies that enforce the myriad of highly technical laws that apply to companies and their benefit plans. This diverse mix of prior experiences and backgrounds enables our team to provide counseling services that align legal strategies with practical approaches to achieve successful outcomes for our clients.
We represent many companies before the IRS, DOL, and PBGC, enhancing our ability to counsel clients effectively and efficiently through plan audits and other government proceedings. In conjunction with our Labor & Employment and ERISA Litigation practice groups, we routinely advise companies on best practices to forestall or resolve litigation involving their employee benefit plans, often with significant cost savings. In addition, our Employee Benefits and Executive Compensation attorneys are active members in the Society for Human Resource Management (“SHRM”), International Foundation of Employee Benefit Plans (“IFEBP”), and other national associations for human resources and employee benefits professionals, which further adds to the perspectives we bring to our counseling services.
Our team’s experience allows Polsinelli to provide companies with a broad spectrum of services for virtually all types of employee benefits and executive compensation arrangements, including:
- Tax-qualified retirement plans such as 401(k), 403(b), 457, profit-sharing, cash balance, and traditional defined benefit pension plans.
- Employee stock ownership plans (ESOPs), including counseling on optimal business strategies and tax efficiencies involving the many uses of ESOPs.
- Health and welfare plans, including advice on self-funding and stop-loss insurance considerations, as well as the application of HIPAA, COBRA, and other laws.
- Executive compensation and other non-qualified deferred compensation arrangements, including issues arising under equity-based plans, retention and incentive bonus arrangements, “golden parachute” payments, and individual employment agreements, as well as advice on compliance with Code Sections 83, 280G, and 409A.
- Wellness programs, including advice on wellness designs that are geared to achieve ”win-win” situations with improved health outcomes for employees and significant cost savings for employers.
- Affordable Care Act (ACA) counseling, including the myriad of options and compliance strategies for companies to consider for offering health benefits to their employees.
- Benefit plans covering union employees, including issues arising under multiemployer pension plans relating to withdrawal liability assessments and delinquent contribution demands, as well as collective bargaining strategies for companies to consider.
- Negotiations with plan service providers, including strategies for companies to obtain cost savings and enhanced commercial terms.
- Employee benefit and executive compensation issues that arise in corporate transactions, such as mergers, acquisitions, divestitures, spin-offs, bankruptcy proceedings, and financing transactions.
- ERISA fiduciary obligations and governance procedures around investments and other plan asset issues.
- For public companies, compliance with Code Section 162(m) for performance-based compensation arrangements and applicable securities laws for the company’s annual proxy statement and other filings that are publicly available to shareholders.