Employee Benefits, Executive Compensation & Tax

We are a multi-disciplinary team well-versed in the issues employers face when it comes to employee benefits, executive compensation and taxes. Our attorneys play a crucial role in ensuring that employers are in compliance and equipped to navigate the regulatory framework involved in the design and administration of employee benefit and executive compensation plans. Our goal is to make sure your benefit plans meet not only the legal requirements, but also your business objectives and aid the well-being of your employees.

Our team helps to guide and implement employee benefit plans, ensuring compliance with federal and state regulations, including the Employee Retirement Income Security Act (ERISA), the Internal Revenue Code (IRC), and the Affordable Care Act (ACA). We manage all aspects of employee benefit and executive compensation matters, from plan design, compliance, and operational issues to ERISA litigation and corporate transactions.  Additionally, we assist clients in defending audits before the Internal Revenue Service (IRS), Department of Labor (DOL) and Pension Benefit Guaranty Corporation (PBGC), and frequently advise clients on the IRS and DOL voluntary compliance programs and correcting plan failures. 

Our tax attorneys provide strategic advice on structuring compensation packages and incentive programs to maximize tax efficiency, minimizing liabilities for both employers and employees. We also advise on the tax treatment of various benefits, such as deferred compensation, bonuses, and equity-based compensation, as well as strategies for maximizing tax deductions and credits available to employers.

Beyond proactive counseling, we represent clients in disputes and litigation arising from alleged violations of employee benefit laws, including claims of ERISA violations, breaches of fiduciary duty, denial of benefits, and discrimination in benefit plan administration. We advocate for clients in negotiations, administrative proceedings, and litigation, seeking to protect their rights and interests under applicable laws.

Our clients are local, regional and national businesses, and include private sector employers, local government entities and not for profit organizations. We represent publicly traded companies as well as privately held entities.

The comprehensive experience of our attorneys enables us to assist with the following: 

EMPLOYEE BENEFITS

• Retirement plan design, drafting, compliance and operational issues
  • Qualified retirement plans (e.g.; 401(k), 403(b), cash balance, defined benefit)
  • Nonqualified retirement plans (e.g. SERPs, deferred compensation)
  • Employee stock ownership plans (ESOPs)
  • Retirement plans for tax-exempt organizations, churches, and state and local governmental entities
• Contractual relationships with service providers, including investment management, custodial and other vendor agreements
• Multiemployer welfare and pension plan audits and litigation, including pension fund withdrawal liability arbitrations and litigation
• Employee benefit issues arising out of mergers and acquisitions
• Health and welfare benefit plan design, drafting, communication, compliance and administration issues
  • Group health, life and disability plans
  • Cafeteria plans
  • Health savings accounts (HSAs), health reimbursement arrangements (HRAs) and flexible spending accounts (FSAs)
• COBRA continuation coverage compliance
• HIPAA privacy and security compliance
• Affordable Care Act compliance, including employer mandate and reporting issues
• ERISA fiduciary duty obligations, liability and governance
• ERISA litigation
• Voluntary correction of plan errors with the IRS and DOL
• Government audits of employee benefit plans (e.g. IRS, DOL, PBGC)
• Non-cash compensation and awards

EXECUTIVE COMPENSATION

• Equity-based plan design, drafting and compliance (e.g. stock options, restricted stock, phantom stock)
• Bonus arrangements and other cash-based incentive programs
• Executive employment and retention agreements
• Change-in-control and severance agreements
• Supplemental executive retirement plans
• Nonqualified deferred compensation plan design and drafting and Code Section 409A compliance
• Split-dollar and other life insurance arrangements

Tax

• Filing obligations
• Tax nexus
• Unemployment tax withholding
• Tax considerations for remote employers working across multiple states
• Tax credit available to employers
• Strategies to maximize tax deductions

RECOGNITIONS

U.S. News – Best Lawyers® “Best Law Firms” – Employee Benefits (ERISA) Law – Tier 3 – National

U.S. News – Best Lawyers® “Best Law Firms” – Employee Benefits (ERISA) Law – Tier 2 – Chicago Metropolitan Area