Compliance & Litigation
Our Employee Benefits Group works with plan sponsors and the fiduciaries of those plans in regard to the challenges faced from increased regulatory requirements and exposure to litigation. Our group has significant experience in qualified defined benefit pension and defined contribution retirement plans. We are equipped to discuss nonqualified plans that are effective to supplement qualified pension and retirement benefits. Today, health and welfare plan sponsors are facing ever-increasing fiduciary liability and regulatory compliance challenges. You will want to discuss our capabilities to assist in necessary due diligence assessments and advice on plans involved in business acquisitions and divestitures, withdrawal liability, union-non-union-double-breasted transactions, as well as underfunded liabilities.
ERISA fiduciaries will want to discuss their readiness for increased scrutiny from DOL audits and the plaintiffs’ bar. Fiduciaries must be mindful of their responsibility in serving qualified pension, retirement, and health & welfare plans from both a regulatory and litigation standpoint. A fiduciary’s duties in this regard are ever-changing and increasing.
Our attorneys in this group possess expertise and experience with the following qualified plans:
412(i), now known as 412(e)
Employee Stock Ownership Plan (ESOP)
Health & Welfare Plans (Taft Hartley, Self-Insured, and Insured)
Our attorneys in this group also possess expertise and experience with the following nonqualified plans:
Executive Bonus Plans (162 Plans)
Supplemental Executive Retirement Plans (SERPs) funded by life insurance
Restrictive Endorsement Bonus Arrangements using permanent life insurance
Matching Deferral Plans using permanent life insurance
Split Dollar Plans using the economic benefit and loan regimes
Salary Reduction Plans
Incentive or Phantom Stock Plans
Personally Owned Life Insurance (as a tax-free retirement strategy)
We regularly advise plan sponsors, their fiduciaries, and investment committees, in regard to regular fee and expense benchmarking, requests for proposals periodically issued to plan vendors, implementation and adherence to a well-documented prudent process, and other general and specific plan administration issues.
Retirement funding for business owners often includes a need for and the development of a succession plan. Every business owner will certainly face succession issues. Our group has the necessary experience and expertise to effectively address this significant issue.
Duties of a plan fiduciary include pursuing appropriate subrogation claims, as provided for in the relevant plan documents, in order to preserve plan assets. Our attorneys are prepared to represent your interests in this regard.
Robert J. D’Anniballe, Jr. — RJD@Pietragallo.com